Vancouver, BC, Aug. 02, 2022 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the "Company") is pleased to announce that it has officially launched RevoluTRANSFER, arguably its most anticipated revenue vertical to date. Leveraging our EU PSD2 banking license, United States MSB II, Canadian FINTRAC, passporting approval, and contractual financial partnerships, the new revenue vertical permits instant worldwide transfers of up to 3 million EUR, or the foreign currency equivalent, from four initial currencies, $CA, USD, EUR, GBP to an initial Phase 1 group of 76 countries and territories guaranteeing some of the world's lowest FOREX rates and fees for cross-border transfers. The Company likewise launched "RevoluPAY Visa Instant" no-hassle prepaid cards for remittances, remittance vendors, and wholesale distribution.
Since November 2nd, 2020, the Company anticipated the launch of a groundbreaking Forex-focused cross-border transfer platform to compete directly with high street banks and other industry players such as XE.com, Wise.com, and others. The immense success of RevoluSEND has revolutionized the sending and receiving of low-cost family remittances and personal transfers to 116 countries of up to 3,000 Euros. RevoluTRANSFER takes the Company's disruptive banking technology one step further by launching a sister platform focused on more significant transactions, from 3000 euros to 3,000,000 Euros (or $CA, USD, EUR, GBP equivalent). RevoluTRANSFER is the commanding catalyst for RevoluREALTY and upcoming Real Estate sector White-Labels providing low forex rates and fees to those buying property overseas with the lowest possible currency exchange rates, including immediate settlement of international multicurrency transfers. Likewise, corporate revenue vertical RevoluFIN and RevoluEX may now execute large individual transactions instantly, especially useful in both an eventual lending environment or the offramp scenarios required by DCE ("Digital Currency Exchanges") to convert significant quantities of cryptocurrency back into FiAT currency and then transfer those funds across borders effortlessly. Furthermore, RevoluTRANSFER manages international cash flow, mitigates risk, and maximizes overseas opportunities for small, medium, and large businesses transacting across borders in multiple currencies.
Phase One RevoluTRANSFER Launch Countries
From today, RevoluTRANSFER users may transfer funds from 4 source currencies $CA, USD, EUR, and GBP to Local currencies or the Euro for instantaneous transactions in Albania, Andorra, Austria, Azerbaijan, Bahrain, Belarus, Belgium, Bosnia and Herzegovina, Brazil, Bulgaria, Costa Rica, Croatia, Cuba, Czech Republic, Denmark, Dominican Republic, El Salvador, Estonia, Faroe Islands, Finland, France, Georgia, Germany, Gibraltar, Greece, Greenland, Guatemala, Hungary, Iceland, Iraq, Ireland, Israel, Italy, Jordan, Kazakhstan, Kosovo, Kuwait, Latvia, Lebanon, Liechtenstein, Lithuania, Luxembourg, Macedonia, Malta, Mauritania, Mauritius, Moldova, Monaco, Montenegro, Netherlands, Norway, Pakistan, Palestinian Territory, Poland, Portugal, Qatar, Romania, Saint Lucia, San Marino, Sao Tome and Principe, Saudi Arabia, Serbia, Seychelles, Slovakia, Slovenia, Spain, Sweden, Switzerland, Timor-Leste, Tunisia, Turkey, Ukraine, United Arab Emirates, United Kingdom, British Virgin Islands.
Phase Two countries should be on stream by August 31st and include notable inbound destinations such as the USA, Canada, Mexico, Japan, China, and other countries. Additionally, Phase Two includes increased source currencies to broaden the platform's international appeal.
Fintech companies have been challenging high street banks in recent years, eating away specific core segments of their business. One was the lucrative Forex margin spread on cross-border wire transfers and associated transfer fees. These challengers, such as Wise.com, XE.com, and CurrenciesDirect.com have solely focused on cross-border currency payments, touting their offers as the lowest Forex rates and fees for sending currency across borders. RevoluTRANSFER now enters the fray, beating the high street banks and the challenger banks above-mentioned, as the attached comparison demonstrates, in a sample transaction sending 300,000 euros in Canadian dollars. RevoluTRANSFER aims squarely at large cross-border payments while also partnering with specific businesses that perform substantial cross-border single transaction sums, such as Real Estate Brokers, Shipping Companies, Free Zone Operators, Multinational Companies, etc.
RevoluPAY Visa Instant Launched
The Company has identified a significant marketplace to issue prepaid Visa Cards to individual users and wholesalers. From today RevoluPAY App users in certain jurisdictions will see an option to order from 1 to 30 "RevoluPAY Visa Instant" prepaid Visa Cards in either anonymous flat silver non-branded format or standard RevoluPAY red livery. The launch of the RevoluPAY Visa Instant prepaid Visa Cards responds to demands for a simple prepaid card distributable in bulk by wholesale vendors to a growing number of international users who seek a simple disposable single recharge Visa Card up to 250 euros. RevoluPAY Visa Instant prepaid Visa Cards are handled identically to the standard RevoluPAY Visa Card, in so much as the statement of transactions and current balance available is visible on a specific platform displaying said data on each card issued. Resellers can purchase, add funds to the cards and distribute them at liberty, increasing the number of cards in circulation while improving market penetration in specific markets, such as the elderly, non-tech-savvy, or those without a mobile phone.
Additionally, the Company expects to launch RevoluCARD.com in the coming weeks, a website to encourage broader marketing of multiple RevoluPAY Visa card options, including vanity cards, third-party branded corporate cards, and an array of special limited series RevoluPAY cards with varying distinct advantages. Given the upcoming primary card issuer status, the Company is expanding into a direct card issuer to the masses. RevoluCARD.com will include white-label arrangements, co-branding, vanity cards, prepaid designer cards, reloadable gift cards, fidelity store cards, and other sectors such as apple/android compatible NFT Design sponsored virtual Visa cards.
Links Used in this News Release.
RevoluTRANSFER - https://revolutransfer.com/
RevoluSEND - https://revolusend.com/
RevoluREALTY - https://revolurealty.com/
RevoluFIN - https://revolufin.com/
RevoluEX - https://revoluex.com/
Comparison XE, Wise, RevoluTRANSFER - https://docdro.id/EkjwA4T
RevoluCARD.com - http://www.revolucard.com/
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 licensed United States MSB, 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 189,607,876 shares issued and outstanding.
RevoluGROUP Canada, Inc.
For further information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
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.