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 the most anticipated revenue stream to date. Leveraging our EU PSD2 banking license, US MSB II, Canadian FINTRAC, passporting approval and contractual financial partnerships, the new revenue arm enables instant global transfers of up to EUR 3 million or foreign currency equivalent from four original ones 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 cross-border remittance fees. The company has also introduced hassle-free prepaid cards “RevoluPAY Visa Instant” for remittances, remittance providers and wholesale distribution.
Since 2.11ndOn January 1, 2020, the company anticipated launching a pioneering Forex-focused cross-border remittance platform to compete head-to-head with high-street banks and other industry players such as XE.com, Wise.com, and more. The immense success of RevoluSEND has revolutionized sending and receiving low-cost family transfers and personal transfers of up to 3,000 euros to 116 countries. RevoluTRANSFER takes the company’s disruptive banking technology one step further by introducing a sister platform focused on more significant transactions, from 3,000 euros to 3,000,000 euros (or the equivalent of $CA, USD, EUR, GBP). RevoluTRANSFER is the dominant catalyst for RevoluREALTY and upcoming white labels in the real estate sector, offering overseas property buyers low foreign exchange rates and fees with the lowest possible exchange rates, including instant multi-currency international transfer processing. Likewise, the RevoluFIN and RevoluEX corporate revenue verticals can now execute large single transactions instantly, which is particularly useful both in an eventual lending environment and in the offramp scenarios required by DCE (“Digital Currency Exchanges”) to exchange significant amounts of cryptocurrency Convert back to fiat currency and then transfer those funds across borders with ease. In addition, RevoluTRANSFER manages international cash flow, mitigates risk and maximizes overseas opportunities for small, medium and large companies doing cross-border, multi-currency business.
Phase One RevoluTRANSFER starting countries
Starting today, RevoluTRANSFER users can transfer funds from 4 source currencies $CA, USD, EUR and GBP to local currencies or the Euro for instant 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 Territories, Poland, Portugal, Qatar, Romania, St. Lucia, San Marino, Sao Tome and Principe, Saudi Arabia, Serbia, Seychelles, Slovakia, Slovenia, Spain, Sweden, Switzerland, Timor-Leste, Tunisia, Turkey, Ukraine, Ver United Arab Emirates, United Kingdom, British Virgin Islands.
Phase Two countries should be operational by August 31stSt and include notable inbound destinations such as the United States, Canada, Mexico, Japan, China and other countries. In addition, phase two includes more source currencies to increase the international appeal of the platform.
Fintech companies have challenged high-street banks in recent years, eating away at certain core segments of their business. One was the lucrative forex margin spread on cross-border transfers and the associated transfer fees. These challengers like Wise.com, XE.com and CurrenciesDirect.com have focused solely on cross-border currency payments and touted their offerings as the lowest forex rates and fees for cross-border payments. RevoluTRANSFER now enters the fray and beats the above high street banks and the challenger banks as shown in the attached comparison in a sample transaction sending 300,000 euros in Canadian dollars. RevoluTRANSFER targets large cross-border payments directly, while also partnering with specific companies that process significant single transaction amounts cross-border, such as: Real estate agents, shipping companies, free trade zone operators, multinational companies, etc.
RevoluPAY Visa Instant launched
The Company has identified a significant market for issuance of prepaid Visa cards to individual users and wholesalers. Starting today, RevoluPAY app users in certain jurisdictions will have the option to order from 1 to 30 RevoluPAY Visa Instant prepaid Visa cards in either the anonymous, flat, unbranded silver format or the standard RevoluPAY red livery. The launch of the RevoluPAY Visa Instant Prepaid Visa Cards responds to the demand for a simple prepaid card that can be mass distributed by wholesalers to a growing number of international users who want a simple disposable Visa card with a one-time reload looking for 250 euros. RevoluPAY Visa Instant prepaid Visa cards are treated in the same way as the standard RevoluPAY Visa card, in that the history of transactions and the current available balance are visible on a special platform that displays the data on each card issued . Resellers can purchase, top up, and freely distribute the cards, increasing the number of cards in circulation while improving market penetration in certain markets, e.g.
In addition, the Company plans to launch RevoluCARD.com, a website to encourage broader marketing of multiple RevoluPAY Visa card options, including vanity cards, third-party corporate cards and a range of limited-edition RevoluPAY cards, in the coming weeks different special series clear advantages. With upcoming status as the primary card issuer, the company is expanding into a direct card issuer for the masses. RevoluCARD.com will include white label arrangements, co-branding, vanity cards, prepaid designer cards, reloadable gift cards, loyalty cards and other sectors such as Apple/Android compatible virtual Visa cards sponsored by NFT Design.
Links used in this press release.
RevoluTRANSFER – https://revolutransfer.com/
RevoluSEND – https://revolusend.com/
RevoluREALTY – https://revolurealty.com/
RevoluFIN – https://revolufin.com/
RevoluEX – https://revoluex.com/
Compare XE, Wise, RevoluTRANSFER – https://docdro.id/EkjwA4T
RevoluCARD.com – http://www.revolucard.com/
The company’s flagship neobanking technology is RevoluPAY®, the multinational Apple and Android payments app. Developed entirely in-house, RevoluPAY features proprietary, industry-specific technology, the resulting source code of which is the intellectual property of the company. RevoluPAY’s built-in features include Wire Transfer Payments, Forex, Crypto-to-Fiat Exchange, Retail & Hospitality Payments, Real Estate Payments, Pay-as-you-go phone top-ups, Gift Cards & Online Balance, Utility Bill Payments, Leisure Payments, Travel Payments etc. RevoluPAY uses blockchain protocols and directly targets the multi-billion dollar global open banking sector and the +595 billion dollar family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY EP SL based in Barcelona. RevoluPAY is a licensed US MSB, Canadian FINTRAC and European PSD2 payment institution 6900 under the auspices of EU Directive 2015/2366 with EU passporting. RevoluGROUP Canada Inc. controls five wholly owned subsidiaries on four continents.
Around RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a Canadian publicly traded, multi-asset, multi-divisional company employing advanced technologies in; Banking, mobile apps, money transfers, phone top-ups, e-gaming, healthcare payments, esports, invoice factoring, online travel, vacation spots, blockchain systems, and fintech app sectors. Click here to read more.
For more information about RevoluGROUP Canada Inc. (TSX-V: REVO), please visit the company’s website at www.RevoluGROUP.com. The Company has approximately 189,607,876 shares issued and outstanding.
RevoluGROUP Canada, inc
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RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
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This press release contains certain statements that may be deemed “forward-looking statements.” All statements in this press release, other than statements of historical fact, that address events or developments that management of the Company expects are forward-looking statements. Although management believes that the expectations reflected 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 projected 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 contained in the forward-looking statements include market prices, exploration and development achievements, the continued availability of capital and financing, and general economic, market or business conditions. Please see the company’s public filings at www.sedar.com For more information.