VANCOUVER, British Columbia, September 20, 2021 (GLOBE NEWSWIRE) – RevoluGROUP Canada Inc. (TSX-V: REVO)(Frankfurt: IJA2) (the “Company”) is pleased to announce that the first white label in the remittance industry is launched today under the Sendity brand. The Company further provides a business update.

  • Sendity Launch of a white label partner
  • DCE management advises the launch of the white label
  • Negotiations – Leading Canadian online exchange
  • Negotiations – Collaboration agreement with a Fortune 500 company
  • Open Bank Canada
  • Negotiations with leading card issuers
  • RevoluGROUP USA Inc. MSB update

RevoluSEND White Label Partner

Following the press release of 15e from June 2021, the white label partner platform is called Sendity. The partner is launching the platform for the first tests today, the 20e September 2021. Using exclusively the RevoluPAY PSD2 banking license, the white label platform offers fund deliveries to Mexico, Brazil, Argentina, Colombia, Chile, Dominican Republic, Bolivia, Ecuador, Guatemala, Honduras, Nicaragua, Peru, Paraguay, Venezuela, and Uruguayan. These markets are those chosen by the partner, having adopted countries in which it retains significant users. As with all of these white label licenses, the RevoluPAY PSD2 banking license and superior KYC and AML protections support all financial cash flow.

Launch of the white label DCE

According to the press release of 14e of December 2020, the company plans to launch its first optimized RevoluEX white label platform for DCE partners in September 2021. RevoluPAY management received confirmation from the DCE management team on 8e of September 2021 confirming that they intend to launch within the previously informed deadline.

Leading Canadian Online Currency Exchange

The Company is pleased to announce that it is in advanced negotiations with a leading Canadian exchange company based in Ontario and involved in activities such as money transfer, online exchange tools and currency converters. Potential synergies could include the cross-use of financial licenses and technologies linked to a possible relaxation of banking regulations in Canada through the adoption of the Open Banking legislation.

Fortune 500 Company Negotiations

Over the past six months or so, the Company has had extensive discussions with a major Fortune 500 company involved in the international payments industry. These talks seem to be coming to an end. The parties have started to prepare for a possible definitive agreement to authorize international deposit services and corresponding bank accounts in many desirable jurisdictions, including the United States, Canada and the United Kingdom, among others. If these discussions are ultimately successful, the Company will gain partner access to a portfolio of products for the financial services industry, including retail and investment banking. Likewise, the main PSD2 license issued by the EU and the company’s Canadian FINTRAC license can be used in reciprocal international transactions.

Open Bank Canada

With the federal election taking place today in Canada, recent news reports indicate that the Liberals and Conservatives are pledging to swiftly pass open banking regulations by the federal government similar to Europe’s. RevoluGROUP is a leader in the industry, currently holding both the PSD2 banking license granted by the EU and the Canadian FINTRAC license. Bringing the banking technology of the RevoluPAY app to Canada has been the goal of management from the start. A Canadian legal framework for open banking approved by the federal government finally seems to be approaching. During this interim period, RevoluGROUP has chosen to accelerate the adoption of its RevoluPAY Neobank Fintech among customers around the world, having met and exceeded the strictest banking security criteria in Europe to obtain the coveted pan-European license PSD2 . RevoluPAY has also partnered with the top 40 global banks BBVA, PNC, Flutterwave and Thunes. RevoluPAY is currently transacting with +120 countries and plans to return to Canada with its financial technology when the Open Banking legislation is finally passed.

Negotiations with leading card issuers

The Company plans to finalize an agreement with one of the 4 largest card issuers in the world in the near future. The proposed agreement allows RevoluPAY to become the main issuer of multi-currency payment cards both for RevoluPAY users and for white-label derivative third-party partnerships. It should be noted in the revised agreement the possibility for users to load RevoluPAY funds on their credit or debit cards issued by any bank or those of third parties anywhere in the world. In addition, the revised agreement includes possible direct cooperation between the proposed primary issuer license and our DCE partners, in which RevoluPAY would be the primary authorized party for card issuance. RevoluPAY would also be authorized to issue and manage all financial matters for branded cards issued to third parties. These negotiations remain subject to a binding non-disclosure agreement (“NDA”). The company finally hopes to inform shareholders of the positively revised deal and the card-issuing partner this month.

RevoluGROUP USA Inc. MSB update

Following the press release of 1st of June 2021, the Company faced a difficult situation caused by the COVID-19 pandemic surrounding the new restrictions of August 30, 2021 imposed by the EU on travelers from the United States and the regulations applied in the same way. to EU citizens arising from the US Presidential Proclamation of January 25, 2021. These evolving travel restrictions limit the movement of EU-based personnel currently barred from entering the United States and prevented from returning from the States -United in the EU. As an immediate solution, Alfredo Manresa has temporarily resigned his position as vice president of RevoluGROUP USA Inc, replaced by Emilio Morales, longtime company advisor and resident of Miami, Florida. The Company is in close contact with the regulator, which requires the President and Vice President of RevoluGROUP USA Inc. to be physically present in the United States for the final regulatory assessment and license approval. The company chose to promote remittance specialist Emilio Morales as vice president to speed up the final MSB process. The Company expects the Florida Department of State, Division of Companies, to amend the Companies Register with the appointment of Mr. Morales as Vice President within ten days, paving the way for the eventual approval of the Florida MSB license.

Links used in this press release.

Sendity https://sendity.com/

Canada Open Banking News – https://shortly.cc/NTt83

About RevoluPAY®

The Company’s flagship neo-banking technology is RevoluPAY®, the multinational Apple and Android payment application. Designed entirely in-house, RevoluPAY has proprietary technology specific to a sector, the resulting source code of which is the intellectual property of the Company. RevoluPAY’s built-in features include transfer payments, Forex, Crypto-to-fiat exchange, retail and hospitality payments, real estate payments, pay-as-you-go phone recharges, gift cards and online credits, utility bill payments, leisure payments, travel payments, etc. RevoluPAY uses blockchain protocols and caters directly to the multi-billion dollar global open banking industry and the + 595 billion dollar family remittance market. RevoluPAY® is operated by the 100% European subsidiary RevoluPAY EP SL located in Barcelona. RevoluPAY is a dual-licensed Canadian FINTRAC and European PSD2 6900 payment institution under the auspices of European Directive 2015/2366 with European passport. RevoluGROUP Canada Inc. controls five wholly owned subsidiaries on four continents.

On RevoluGROUP Canada Inc.:

RevoluGROUP Canada Inc. is a publicly traded, multi-asset, multi-division Canadian company that deploys cutting-edge technologies in; Banking, Mobile Apps, Remittances, Cell Phone Top-ups, Electronic Games, Healthcare Payments, E-Sports, Bill Factoring, Online Travel, Resorts, Blockchain Systems, and Fintech Apps. Click here to read more.

For more information on RevoluGROUP Canada Inc. (TSX-V: REVO), visit the Company’s website at www.RevoluGROUP.com. The Company has approximately 175,180,592 shares issued and outstanding.

RevoluGROUP Canada, Inc.

“Steve Marshall”

______________________

STEVE MARSHALL

CEO

For more information, contact:

RevoluGROUP Canada Inc.

Telephone: (604) 332 5355

Fax: (604) 687 3119

Email: [email protected]

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATORY SERVICE PROVIDER (AS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS COMMUNICATION.

This press release includes certain statements which may be considered “forward-looking statements”. All statements contained in this press release, other than statements of historical fact, which deal with events or developments that the management of the Company expects, 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 of forward-looking statements. The Company assumes no obligation to update these forward-looking statements if the beliefs, estimates or opinions of management, or other factors, should change. Factors that could cause actual results to differ materially from those of forward-looking statements include market prices, exploration and development successes, continued availability of capital and financing, and economic, market conditions. or general commercial. Please see the Company’s public documents at www.sedar.com for more information.

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