Vancouver, BC – RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that it has successfully concluded the technical integration of Alipay, Union Pay, and Phase 3 countries into RevoluPAY and RevoluSEND.
RevoluPAY Adds Alipay and Union Pay
Further to the news release dated 16th February 2021, the Company has completed the integration of Alipay on schedule. Although not cited in the previous news release for commercial reasons, the Company has also integrated Union Pay within this active update.
About Union Pay
The integration of Union Pay represents a significant milestone for the Company. UnionPay is the largest card payment organization (debit and credit cards combined) in the world, offering mobile and online payments based on the total value of payment transactions, ahead of Visa and Mastercard. Founded on 26 March 2002, UnionPay is a Chinese financial services corporation headquartered in Shanghai, China. It provides bank card services and a major card scheme in mainland China and overseas. It is also the only interbank network in China that links all the automatic teller machines (ATMs) throughout the country. Also, an electronic funds transfer at the point of sale (EFTPOS) network. Over 80% of merchants in the United States accept UnionPay credit cards, and almost all ATMs accept UnionPay cards. In Canada, UnionPay cards are accepted nationwide. Over 90% of the local ATMs accept UnionPay cards for withdrawing Canadian dollars. Europe and most of Asia broadly accept Union Pay. RevoluPAY is now connected to the Union Pay network, including 868 Chinese banks.
Union Pay Card Issuers Outside of China
RevoluPAY is also now connected to cardholders at international Union Pay issuing banks: AGD Bank Myanmar, Askari Bank Pakistan, Australia Post, Baiduri Bank Brunei, Bangkok Bank Thailand, Banque Pour Le Commerce Exterieur Lao (BCEL) Laos, Bank Sinarmas Indonesia, BDO Unibank Philippines, DBS Bank Singapore, Halyk Bank Kazakhstan, Vietcombank Vietnam, Kasikornbank Thailand, Kazkommertsbank Kazakhstan, Krung Thai Bank Thailand, Lotte Card Bank Republic of Korea, Mitsubishi UFJ NICOS Bank Japan, Muganbank Azerbaijan, SCT Network Bank Nepal, Himalayan Bank Nepal, Nepal Investment Bank Nepal, NIC ASIA Bank Nepal, AmBank Malaysia, Public Bank Malaysia, Philippine National Bank Philippines, Sacombank Vietnam, Mitsui Sumitomo Bank Japan, Shinhan Bank Republic of Korea, United Overseas Bank Singapore, National Bank of Pakistan, 1LINK Bank Pakistan, Bank of China (Hong Kong), Bank of East Asia, Citibank, DBS Bank, Hana Bank, Hang Seng Bank, HSBC, OCBC Bank, OCBC Wing Hang Bank, and Standard Chartered Bank.
RevoluSEND Phase 3 Country Integration
As projected on the 16th February 2021, the Company is pleased to announce that the following countries: Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Malaysia, Pakistan, Philippines, Thailand, Vietnam are now active for RevoluPAY remittance deliveries and bank transfers through RevoluSEND.
Huobi White Label
Further to the news release dated 14th December 2020, the Company had planned to launch the entirely completed Huobi white-label platform before year-end. However, due to the recent positive developments surrounding Company advisor Erik Aaron Lara, assuming the role of European Co-CEO of DSDAQ, the Company is now exploring enhanced RevoluEX market penetration synergies with supplementary white label parties.
RevoluVIP Travel Division Update
The Company last updated shareholders concerning the RevoluVIP Travel club on the 1st June 2020. Management now considers it timely to provide shareholders with a fresh RevoluVIP update. Key traveler catalyst markets are reacting to both COVID vaccine success and decreasing case numbers. On March 12th, 2021, the French authorities lifted travel restrictions on numerous countries that usually generate high inbound tourism numbers. On March 11th U.S President Biden announced the 4th of July as a date on which Americans may be over the worst of the lockdowns and travel restrictions. United Kingdom Prime Minister Boris Johnson has revealed a similar return to normality for the 21st of June.
Consequently, web visits to RevoluVIP destination websites have risen sharply, with a significant uptick in web traffic for specific countries, allied to a renewed trickle of firm bookings. Consumer confidence is returning, and travelers are starting to investigate future trips for later in the year. The Company wishes to remind shareholders that it streamlined RevoluVIP operational costs significantly during the pandemic's initial stages. These cost savings will remain in perpetuity since the Company seized the opportunity to renegotiate GDS access fees and analogous fixed costs permanently. RevoluVIP has continued to add suppliers during the interim, increase static destination content, and perfect the proprietary +140 country platform. The booking section's look and feel are also undergoing a refresh, destined for release before the summer. Management believes that RevoluVIP is ideally situated to capture the expected rise in demand as consumers travel again while frugally seeking the net price travel offers available to Diamond Members of the travel club.
United States MSB License Update
Management at wholly-owned subsidiary RevoluGROUP USA Inc has advised that the Floridian Financial regulator expects to decide on the license granting next week. The National Multistate Licensing System & Registry's (NMLS) Multistate Money Services Businesses Licensing Agreement (MMLA) for the planned twenty-seven (27) state licenses were previously petitioned, along with Washington.
Links Used in this News Release.
France COVID Update - https://shortly.cc/WqTT9
U.S. Biden COVID - https://shortly.cc/LTQMu
UK Johnson COVID - https://shortly.cc/MU2Ci
RevoluVIP Destinations - https://revoluvip.com/pages/info/sites
Erik A Lara DSDAQ - https://shortly.cc/uaVpm
RevoluVIP Club Membership - https://www.revoluvip.club/
The Company's flagship Neobanking technology is RevoluPAY®, the Apple and Android multinational payment app. Conceived entirely in-house, RevoluPAY features proprietary, sector-specific technology of which the resulting source code is the Company's intellectual property. RevoluPAY's built-in features include Remittance Payments, Forex, Crypto-to-fiat exchange, Retail and Hospitality payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, Leisure payments, Travel Payments, etc. RevoluPAY employs blockchain protocols and is squarely aimed at the worldwide multi-billion dollar Open Banking sector and + $595 billion family remittance market. RevoluPAY® is operated by the European wholly-owned subsidiary RevoluPAY EP S.L situated in Barcelona. RevoluPAY is a dual-licensed Canadian FINTRAC and European PSD2 payment institution 6900 under the auspices of E.U. Directive 2015/2366 with EU Passporting. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.
For further information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company's website at www.RevoluGROUP.com. The Company has approximately 174,630,592 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Facsimile: (604) 687 3119
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.