REGO Payment Architectures, Inc expands into Europe
BLUE BELL, Pa., Jan. 20, 2022 (GLOBE NEWSWIRE) — REGO Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT), today announced it has signed a Memorandum of Understanding (“MOU”) with The Reputation Exchange, Plc (“REPX”). The MOU proposes the two companies will mutually work to create white labeled, financial offerings for families and children across the United Kingdom, Italy and Romania. The two companies are prepared to develop privacy-first oriented payment solutions to ensure children under 18 years old have a safe and secure environment to conduct commerce as they build their financial literacy. The MOU also mentions enhanced services to existing REPX customers, which will help to positively develop new partnership opportunities for REPX and its rich portfolio of commercial clientele. Particularly, in the sports and entertainment market where there is a growing demand for younger fans that have a passion for sports and entertainment, just like their parents and guardians, and would benefit from a youth card that REPX can link to their favorite sports club or brand.
REPX is already an established player in this market, through products and a series of technologically advanced applications, all based on registered patents, and an innovative business model that allows sports clubs, entertainment and sports stars, celebrities, influencers, brands and cities with high tourist appeal to have their own personalized prepaid card. Along with a special App that allows customers to connect with their followers, this innovative product boasts a significant potential increase in fan engagement. Reaching its target of nearly half a billion fans in soccer and Esports, the fintech has already signed partnerships with 15 top internationally recognized football clubs, including Real Madrid CF, A.C. Milan, A.S. Roma, BVB Borussia Dortmund, Granada CF and Wolverhampton Wanders F.C., growing rapidly on its way in achieving unicorn status.
REGO is a privacy-first platform, best known for its award winning super app, Mazoola®. The family-oriented solution provider offers several fintech-for-kids solutions, including MazoolaEnabledSM, a white label version of Mazoola, and MazoolaPaySM, a buyflow payment button offering children anonymity while purchasing goods online. Built on the same patented, COPPA and GDPR certified technology, both MazoolaEnabled and MazoolaPay ensure a child’s privacy always remains private. With mounting pressure for greater safeguard of children online and the mobile wallet space projected to surpass $3.5T by 2023, REGO is well positioned for global expansion and REPX partnership is a great start.
Ian Clowes, CEO of REPX, said on the partnership: “I am thrilled with reaching this stage in our commercial discussions with REGO to agree in principle to develop a white label solution together targeted at the youth market in Europe. REPX is renowned for taking innovative solutions to market and solving problems globally thanks to our patented technology. Adding a youth product to our portfolio of products further strengthens our value proposition and will help the underserved community where there are still markets in the SEPA region that have no payment card for under 18’s accessibility. REPX wanted a solution that will help to service these young people and their families through a virtual card in App with contactless to facilitate mobile, online and instore transactions in a secure way by utilizing data protection tools that REPO has installed in the solution to keep children safer with privacy first payments.”
Peter S. Pellulo, Chief Executive Officer of REGO, said: “This is a significant partnership opportunity. REPX is an innovative fintech, known for connecting celebrities, influencers, sports teams and brands with fans of all ages. Providing families with safe, secure commerce experiences is critical to REPX’s success, which has been the mandate of REGO since its inception. Our privacy-first, COPPA and GDPR certified solutions also address the recent enacted Children’s Code in the UK in 2021. Together, we have a unique opportunity to quickly expand across Europe.”
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The information in this press release may contain forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about us that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, the absence of any material operating history or revenue, our ability to attract and retain qualified personnel, our ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of our services and products, our limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by us in Item 1.A “Risk Factors” in our most recent Form 10-K; other risks to which our Company is subject; other factors beyond the Company’s control.
All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. The Company has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.
REPX is a fintech revolutionizing traditional banking by combining technology and the passion of billions of fans worldwide with Social Media. REPX allows sports teams, celebrities, influencers, brands and iconic cities to innovatively connect with fanbases through exclusive co-branded prepaid cards, debit cards and digital products. REPX’s portfolio of partners and brands creates maximum engagement of the social generation through electronic payments. Come and explore the many opportunities this platform has to offer by visiting REPX at www.therepx.com.
REGO is a digital solution that enables children to stay safe in today’s tech-first environment. The REGO Digital Wallet platform, Mazoola®, allows parents and guardians to enable online shopping or digital spending at approved retailers, control what funds are available for which purchases, and reward children or pay allowance via the app. REGO is an innovative financial platform uniquely positioned due to its Children’s Online Privacy Protection Act (COPPA) and General Data Protection Regulation (GDPR) compliance. Visit REGO at regopayments.com.
REGO Payment Architectures, Inc.
325 Sentry Parkway, Suite 200
Blue Bell, PA 19422
Chief P.R. & Marketing Officer