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, US MSB II, Canadian FINTRAC, passport endorsement and contractual financial partnerships, the new revenue vertical enables instant global transfers of up to €3 million , or foreign currency equivalent, from four initial currencies, CAD, USD, EUR, GBP to an initial Phase 1 pool of 76 countries and territories guaranteeing some of the world’s lowest FOREX rates and fees for cross-border transfers. The company has also launched hassle-free “RevoluPAY Visa Instant” prepaid cards for remittances, remittance providers and wholesale distribution.
Since November 2n/a, 2020, the company has planned to launch a revolutionary Forex-focused cross-border transfer platform to directly compete with major 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 and personal money transfers to 116 countries up to 3,000 euros. RevoluTRANSFER takes the company’s disruptive banking technology one step further by launching a sister platform focused on larger transactions, from 3,000 Euros to 3,000,000 Euros (or the equivalent in CAD, USD, EUR, GBP). RevoluTRANSFER is the main enabler of RevoluREALTY and the next real estate industry white labels, offering low exchange rates and fees to those buying property overseas with the lowest possible exchange rates, including immediate settlement international multi-currency transfers. Likewise, the RevoluFIN and RevoluEX business verticals can now execute large individual transactions instantly, which is particularly useful both in a potential lending environment or in the non-campaign scenarios required by DCE (Digital Currency Exchanges). to convert significant amounts of cryptocurrency back into FiAT currency and then move those funds across borders effortlessly. Additionally, RevoluTRANSFER manages international cash flow, mitigates risk and maximizes overseas opportunities for small, medium and large businesses transacting cross-border in multiple currencies.
RevoluTRANSFER phase 1 launch country
From today, RevoluTRANSFER users can transfer funds from 4 source currencies $CA, USD, EUR and GBP to local currencies or 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 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 are expected to be in service by August 31st and include notable inbound destinations such as the United States, Canada, Mexico, Japan, China and other countries. Additionally, phase two includes an increase in source currencies to broaden the international appeal of the platform.
Comparison of competitors
Fintech companies have challenged the big banks in recent years, eroding specific key segments of their businesses. One was the lucrative Forex margin on cross-border wire transfers and associated transfer fees. These challengers, such as Wise.com, XE.com, and CurrenciesDirect.com have focused solely on cross-border currency payments, touting their offerings as the lowest Forex rates and fees for sending currency across borders. . RevoluTRANSFER now enters the fray, beating the big banks and challenger banks mentioned above, as shown in the attached comparison, in an example transaction sending 300,000 Euros in Canadian dollars. RevoluTRANSFER is aimed squarely at large cross-border payments while partnering with specific businesses that perform large single cross-border transactions, such as real estate brokers, shipping lines, free zone operators, multinational corporations, etc.
Instant launch of RevoluPAY Visa
The Company has identified a significant market to issue prepaid Visa cards to individual users and wholesalers. Starting today, users of the RevoluPAY app in select jurisdictions will have the option to order from 1 to 30 “RevoluPAY Visa Instant” prepaid Visa cards in unbranded flat silver anonymous format or in 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 distributed wholesale by wholesalers to a growing number of international users who are looking for a simple one-time recharge disposable Visa card up to 250 euros. The RevoluPAY Visa Instant Prepaid Visa Cards are treated identically to the standard RevoluPAY Visa Card, insofar as the transaction record and the current available balance are visible on a specific platform displaying said data on each card issued. Resellers can buy, add funds to cards and distribute them freely, thereby increasing the number of cards in circulation while improving market penetration in specific markets, such as the elderly, the non-tech savvy or those who do not have a cell phone.
Additionally, the company plans to launch RevoluCARD.com in the coming weeks, a website to encourage broader marketing of several RevoluPAY Visa card options, including personalized cards, third-party branded corporate cards and a range of special RevoluPAY cards in limited series with different distinct advantages. Given the upcoming status as a primary card issuer, the company is growing to become a direct card issuer for the masses. RevoluCARD.com will include white label arrangements, co-branding, personalized cards, prepaid designer cards, reloadable gift cards, loyalty store cards and other areas such as virtual Visa cards sponsored by Apple/Android compatible 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/
Comparative XE, Wise, RevoluTRANSFER – https://docdro.id/EkjwA4T
RevoluCARD.com – http://www.revolucard.com/
The company’s flagship neo-banking technology is RevoluPAY®, the Apple and Android multinational payment application. Entirely designed 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-Fiat Exchange, Retail and Hospitality Payments, Real Estate Payments, Pay Per View Phone Recharges, Gift Cards and Online Credits , utility bill payments, leisure payments, travel payments, etc. RevoluPAY uses blockchain protocols and directly targets the multi-billion dollar global Open Banking industry and the over $595 billion family remittance market. RevoluPAY® is operated by the 100% European subsidiary RevoluPAY EP SL located in Barcelona. RevoluPAY is an authorized ESM in the United States, Canadian FINTRAC and a European PSD2 6900 payment institution under the auspices of the European Directive 2015/2366 with European passport. RevoluGROUP Canada Inc. controls five wholly-owned subsidiaries on four continents.
About RevoluGROUP Canada Inc.:
RevoluGROUP Canada Inc. is a publicly traded, multi-asset, multi-divisional Canadian company that deploys cutting-edge technologies in; Banking Sectors, Mobile Apps, Remittances, Cell Phone Recharges, EGaming, Healthcare Payments, Esports, Bill Factoring, Online Travel, Resorts, Blockchain Systems and Fintech Applications. Click here to read more.
For more information about 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 more information, contact:
RevoluGROUP Canada Inc.
Telephone: (604) 332 5355
Email: [email protected]
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This press release includes certain statements that may be considered “forward-looking statements”. All statements contained in this press release, other than statements of historical facts, which address events or developments expected by the management of the Company, are forward-looking statements. Although management believes that the expectations expressed in these forward-looking statements are based on reasonable assumptions, these statements are not guarantees of future performance, and actual results or developments may differ materially from those contained 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 the forward-looking statements include market prices, exploration and development success, the continued availability of capital and financing, and general economic conditions. , market or business. Please see the Company’s public documents at www.sedar.com for more information.