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.获得额外资金，为将其银行即平台服务扩展到社区和全球金融机构铺平道路
Rego Payment Architecture Inc.获得专利的隐私优先平台和获奖的超级应用程序Mazoola，是公认的第一个也是唯一一个通过COPPA和GDPR认证的家庭移动钱包。
宾夕法尼亚州蓝贝尔，2023年3月16日(环球通讯社)--Rego Payment Architecture，Inc.(“Rego”)(OTCQB：RPMT)今天宣布，它已从其主要投资者之一詹姆斯·戴维森先生那里获得了2000万美元的信贷额度(“LOC”)。
Rego首席执行官Peter S.Pelullo表示：“LOC使公司能够执行我们2023年的战略规划活动。通过获得这一LOC，该公司将筹集约1亿美元，用于开发和商业化一种“同类最佳”、获奖、符合COPPA和GDPR标准的移动钱包和超级应用程序。来自国会和家长的压力，要求保护使用数字产品和服务的儿童的隐私和安全。银行和信用社现在正指望像Rego这样的金融科技提供商，他们可以为他们的家庭钱包解决方案提供独特的、独一无二的、符合COPPA和GDPR的产品。根据我们从大大小小的银行、信贷机构以及渠道提供商那里得到的好评，我们相信Rego能够很好地实现我们的目标，即将我们的银行即平台服务扩展到更广泛的金融机构社区，并在本日历年度执行我们的最终战略目标。“
Rego是一个专门构建的隐私优先平台，因其获奖的COPPA认证的超级应用程序Mazoola而闻名。这家面向家庭的解决方案提供商提供了几种金融科技儿童解决方案，其中包括MazoolaEnabledSM，向金融机构提供的Mazoola的白标版本，以及MazoolaPaySM，一个Buyflow支付按钮，让孩子们在网上购物时匿名。基于相同的专利、COPPA和GDPR认证技术，MazoolaEnabled和MazoolaPay都确保儿童的隐私始终保持隐私。
关于Rego
Rego是一种数字解决方案，使儿童能够在当今科技优先的环境中保持安全。Rego数字钱包平台，Mazoola，允许父母和监护人在经批准的零售商实现在线购物或数字消费，控制哪些资金可用于哪些购买，并通过该应用程序奖励儿童或支付津贴。Rego是一个创新的金融平台，由于其遵守儿童在线隐私保护法(COPPA)和一般数据保护法规(GDPR)而具有独特的定位。在regopayments.com上访问Rego。
安全港声明
本新闻稿中的信息可能包含对Rego公司目前的预期和对未来事件的预测的前瞻性陈述。这些前瞻性陈述不是担保，可能会受到有关Rego的已知和未知风险、不确定性和假设的影响，这些风险、不确定性和假设可能会导致实际结果、活动水平、业绩或成就与此类前瞻性陈述明示或暗示的任何未来结果、活动水平、业绩或成就大不相同。可能导致实际结果与Rego预期大不相同的重要因素包括但不限于：Rego筹集额外资本的能力，没有任何实质性的运营历史或收入，Rego吸引和保留合格人员的能力，及时开发新服务和产品并将其推向市场的能力，Rego服务和产品的市场接受度，Rego在行业中有限的经验，成功开发许可计划和产生业务的能力，相关市场的快速技术变化，意外的网络中断或安全漏洞，对当前和未来知识产权的需求变化，立法，监管和竞争的发展，与大公司的激烈竞争，总体经济状况，以及REGO在其最新的10-K表格中的项目1.A“风险因素”中描述的其他风险；Rego面临的其他风险；Rego无法控制的其他因素。
可归因于Rego或代表Rego行事的人的所有后续书面和口头前瞻性陈述，均明确符合前述规定。自本报告发布之日起，瑞格没有义务也不承诺更新、修改或更正任何这些前瞻性表述。
媒体联系人：
约瑟夫·托奇德洛夫斯基
Rego支付架构，Inc.
哨兵大道325号，套房200
宾夕法尼亚州蓝贝尔，邮编：19422
邮箱：pr@regopayments.com
(O)267-465-7530
