RevoluPay entered into agreement with UAE Al Fahim technologies to launch CubaFin Financing Platform and is seeking Payment Service Provider license from DIFC
RevoluGROUP Canada Inc. (TSX-V: REVO ), a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in the; 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 has announced that it intends to launch the USD and CAD multicurrency and aesthetically redesigned version of the proprietary RevoluPAY App on or before 20th Feb 2021. The launch is precisely timed to coincide with numerous future white-label parties for whom multiple currency payments and disbursements are a requisite. The Company further outlines its roadmap to future user acquisition programs through the white-labeling of its technology.
This move comes after RevoluPay made enhancements to multicurrency RevoluPAY to support in-app on-the-fly switchable currency accounts initially in CA$, USD, Euro, and GBP. The corporate objective was to enable RevoluPAY and future White-Label users to transact in a specific currency and operate directly in that currency. The Company has since completed the entire multicurrency reprogramming of RevoluPAY allied to the comprehensive aesthetic redesign of the App first revealed on October 19th, 2020. The enhanced App version planned for release on or before 20th Feb 2021 incorporates the addition of USD and CA$ functionality, with the inclusion of GBP coming shortly after that.
Revolu Group plans to offer white labels varients of RevoluPAY. RevoluPay is the flagship technology deployed on Apple and Android multinational payment app and linked Visa Card. Built entirely in-house, RevoluPAY features proprietary, sector specific technology, of which, the resulting source code is the property of the company. RevoluPAY’s built-in features include: App-Linked Visa Card, Leisure payments, travel payments, retail and hospitality payments, remittance payments, real estate payments, Healthcare Payments, Egaming, Esports, pay-as-you-go phone top-ups, Utility Bill payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market.
On the 1st of February 2021, CEO Steve Marshall entered into a non-disclosure agreement (“NDA”) with a mobile phone carrier domiciled in the Caribbean. Said telecommunications provider currently maintains approximately 13 million users in Central America, the Caribbean, and the Pacific. Discussions center around a homogenous carrier-branded packaged white-label version of RevoluPAY, RevoluSEND, RevoluCHARGE, RevolUTILITY, RevoluVIP, RevoluEX, and RevoluPOS.
In December of 2020 the Company advised shareholders that it had agreed to white-label its RevoluEX technology and RevoluPAY App for the affiliated cryptocurrency exchange Huobi. This white-label development is now completed and expected to launch shortly. It is estimated that Huobi Global maintains 5 million users in over 130 countries worldwide. Prior to that RevoluPay has entered negotiations with a Nasdaq listed company focused on mobile with subscribers in South America and Africa, as well as signing a non-disclosure agreement with a highly recognized Chinese Payments Processing entity. The Company has recently signed a milestone agreement to procure remittance deliveries into the Chinese market, which was instrumental to the eventual white-labeling and API synergies associated with this eventual collaboration.
Prior to this RevoluPay had signed a letter of intent On the 9thof August 2017, with Al-Fahim Technologies, based in Dubai, UAE. On the 8thDecember 2020, the Company dispatched corporate advisor Erik A. Lara Riveros to pursue the petition of a Payment Service Provider (“PSP”) Money Service Business License in the Dubai International Financial Centre (“DIFC”) from the Dubai Financial Services Authority. The Company expects to submit the final paperwork for said PSP license in February of 2020. Those mentioned above, plus several other white-label opportunities, are expected to emerge from the UAE region in Q2 2021.
As per the press release, the Company’s roadmap for white-label derived user onboarding has thus been in the public domain throughout the whole term of its now concluded almost four years technology rollout. Each revenue vertical has been conceived from the outset as a future white-label technology, meaning that no retooling nor programming of the Company’s core technology is required. The Company anticipates the first white-label branded technology to be that of Huobi, followed shortly by those mentioned previously, many of which have been beta-tested either in synergy with the eventual partner or autonomously.