Rego Payment Architectures, Inc, secures additional funding to pave the way for expansion of its Banking-as-a-Platform offering to community and global financial institutions
Rego Payment Architectures Inc.'s patented, privacy-first platform and award winning super app, Mazoola, is recognized as the first and only COPPA and GDPR certified family mobile wallet.
BLUE BELL, Pa., March 16, 2023 (GLOBE NEWSWIRE) -- Rego Payment Architectures, Inc. ("REGO") (OTCQB: RPMT), today announced it has secured a $20 million line of credit ("LOC") from one its major investors, Mr. James Davison.
Peter S. Pelullo, Chief Executive Officer at REGO, said, "This LOC positions the company to execute our strategic planning activities for 2023. With access to this LOC, the company will have raised approximately $100 million for the development and commercialization of a 'best-in-breed,' award winning, COPPA & GDPR compliant mobile wallet and super app. Pressure from Congress and parents to protect the privacy and security of children who use digital products and services continues to mount. Banks and credit unions are now looking to FinTech providers like REGO, who can deliver a unique, one-of-a-kind offering that is COPPA & GDPR compliant, for their family wallet solutions. Based on the reception that we have received from small and large banks, credit institutions, as well as channel providers, we believe REGO is well positioned to achieve our objective of expanding our Banking-as-a-Platform services into the broader financial institutional community, as well as executing our ultimate strategic goal this calendar year."
REGO is a purpose built, privacy-first platform best known for its award winning COPPA certified super app, Mazoola. The family-oriented solution provider offers several fintech-for-kids solutions, including MazoolaEnabledSM, a white label version of Mazoola offered to Financial Institutions, and MazoolaPaySM, a buyflow payment button offering children anonymity while purchasing goods online. Built on the same patented, COPPA and GDPR certified technology, both MazoolaEnabled and MazoolaPay ensure a child's privacy always remains private.
About REGO
REGO is a digital solution that enables children to stay safe in today's tech-first environment. The REGO Digital Wallet platform, Mazoola, allows parents and guardians to enable online shopping or digital spending at approved retailers, control what funds are available for which purchases, and reward children or pay allowance via the app. REGO is an innovative financial platform uniquely positioned due to its Children's Online Privacy Protection Act (COPPA) and General Data Protection Regulation (GDPR) compliance. Visit REGO at regopayments.com.
Safe Harbor Statement
The information in this press release may contain forward-looking statements on REGO's current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about REGO that may cause the actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from REGO's expectations include, but are not limited to: REGO's ability to raise additional capital, the absence of any material operating history or revenue, REGO's ability to attract and retain qualified personnel, the ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of REGO's services and products, REGO's limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by REGO in Item 1.A "Risk Factors" in REGO's most recent Form 10-K; other risks to which REGO is subject; other factors beyond REGO's control.
All subsequent written and oral forward-looking statements attributable to REGO, or persons acting on REGO's behalf, are expressly qualified in their entirety by the foregoing. REGO has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.
Media Contact:
Joseph Toczydlowski
REGO Payment Architectures, Inc.
325 Sentry Parkway, Suite 200
Blue Bell, PA 19422
pr@regopayments.com
(o) 267-465-7530
Rego Payment Archtures，Inc.獲得額外資金，為將其銀行即平臺服務擴展到社區和全球金融機構鋪平道路
Rego Payment Architecture Inc.獲得專利的隱私優先平臺和獲獎的超級應用程式Mazoola，是公認的第一個也是唯一一個通過COPPA和GDPR認證的家庭移動錢包。
賓夕法尼亞州藍貝爾，2023年3月16日(環球通訊社)--Rego Payment Architecture，Inc.(“Rego”)(OTCQB：RPMT)今天宣佈，它已從其主要投資者之一詹姆斯·戴維森先生那裡獲得了2000萬美元的信貸額度(“LOC”)。
Rego首席執行官Peter S.Pelullo表示：“LOC使公司能夠執行我們2023年的戰略規劃活動。通過獲得這一LOC，該公司將籌集約1億美元，用於開發和商業化一種“同類最佳”、獲獎、符合COPPA和GDPR標準的移動錢包和超級應用程式。來自國會和家長的壓力，要求保護使用數位產品和服務的兒童的隱私和安全。銀行和信用社現在正指望像Rego這樣的金融科技提供商，他們可以為他們的家庭錢包解決方案提供獨特的、獨一無二的、符合COPPA和GDPR的產品。根據我們從大大小小的銀行、信貸機構以及渠道提供商那裡得到的好評，我們相信Rego能夠很好地實現我們的目標，即將我們的銀行即平臺服務擴展到更廣泛的金融機構社區，並在本日曆年度執行我們的最終戰略目標。“
Rego是一個專門構建的隱私優先平臺，因其獲獎的COPPA認證的超級應用程式Mazoola而聞名。這家面向家庭的解決方案提供商提供了幾種金融科技兒童解決方案，其中包括MazoolaEnabledSM，向金融機構提供的Mazoola的白標版本，以及MazoolaPaySM，一個Buyflow支付按鈕，讓孩子們在網上購物時匿名。基於相同的專利、COPPA和GDPR認證技術，MazoolaEnabled和MazoolaPay都確保兒童的隱私始終保持隱私。
關於Rego
Rego是一種數位解決方案，使兒童能夠在當今科技優先的環境中保持安全。Rego數位錢包平臺，Mazoola，允許父母和監護人在經批准的零售商實現在線購物或數位消費，控制哪些資金可用於哪些購買，並通過該應用程式獎勵兒童或支付津貼。Rego是一個創新的金融平臺，由於其遵守兒童在線隱私保護法(COPPA)和一般數據保護法規(GDPR)而具有獨特的定位。在regopayments.com上訪問Rego。
安全港聲明
本新聞稿中的資訊可能包含對Rego公司目前的預期和對未來事件的預測的前瞻性陳述。這些前瞻性陳述不是擔保，可能會受到有關Rego的已知和未知風險、不確定性和假設的影響，這些風險、不確定性和假設可能會導致實際結果、活動水準、業績或成就與此類前瞻性陳述明示或暗示的任何未來結果、活動水準、業績或成就大不相同。可能導致實際結果與Rego預期大不相同的重要因素包括但不限於：Rego籌集額外資本的能力，沒有任何實質性的運營歷史或收入，Rego吸引和保留合格人員的能力，及時開發新服務和產品並將其推向市場的能力，Rego服務和產品的市場接受度，Rego在行業中有限的經驗，成功開發許可計劃和產生業務的能力，相關市場的快速技術變化，意外的網路中斷或安全漏洞，對當前和未來知識產權的需求變化，立法，監管和競爭的發展，與大公司的激烈競爭，總體經濟狀況，以及REGO在其最新的10-K表格中的專案1.A“風險因素”中描述的其他風險；Rego面臨的其他風險；Rego無法控制的其他因素。
可歸因於Rego或代表Rego行事的人的所有後續書面和口頭前瞻性陳述，均明確符合前述規定。自本報告發布之日起，瑞格沒有義務也不承諾更新、修改或更正任何這些前瞻性表述。
媒體聯繫人：
約瑟夫·託奇德洛夫斯基
Rego支付架構，Inc.
哨兵大道325號，套房200
賓夕法尼亞州藍貝爾，郵編：19422
郵箱：pr@regopayments.com
(O)267-465-7530
