BLUE BELL, PA — REGO Payment Architectures, Inc. (OTCQB: RPMT) announced it recently signed a Memorandum of Understanding with The Reputation Exchange, Plc. The MOU proposes the two companies will mutually work to create white labeled, financial offerings for families and children across the United Kingdom, Italy and Romania. The two companies are prepared to develop privacy-first oriented payment solutions to ensure children under 18 years old have a safe and secure environment to conduct commerce as they build their financial literacy. The MOU also mentions enhanced services to existing REPX customers, which will help to positively develop new partnership opportunities for REPX and its rich portfolio of commercial clientele. Particularly, in the sports and entertainment market where there is a growing demand for younger fans that have a passion for sports and entertainment, just like their parents and guardians, and would benefit from a youth card that REPX can link to their favorite sports club or brand.
REPX is already an established player in this market, through products and a series of technologically advanced applications, all based on registered patents, and an innovative business model that allows sports clubs, entertainment and sports stars, celebrities, influencers, brands and cities with high tourist appeal to have their own personalized prepaid card. Along with a special App that allows customers to connect with their followers, this innovative product boasts a significant potential increase in fan engagement. Reaching its target of nearly half a billion fans in soccer and Esports, the fintech has already signed partnerships with 15 top internationally recognized football clubs, including Real Madrid CF, A.C. Milan, A.S. Roma, BVB Borussia Dortmund, Granada CF and Wolverhampton Wanders F.C., growing rapidly on its way in achieving unicorn status.
REGO is a privacy-first platform, best known for its award-winning super app, Mazoola®. The family-oriented solution provider offers several fintech-for-kids solutions, including MazoolaEnabledSM, a white label version of Mazoola, 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. With mounting pressure for greater safeguard of children online and the mobile wallet space projected to surpass $3.5T by 2023, REGO is well positioned for global expansion and REPX partnership is a great start.
Ian Clowes, CEO of REPX, said on the partnership: “I am thrilled with reaching this stage in our commercial discussions with REGO to agree in principle to develop a white label solution together targeted at the youth market in Europe. REPX is renowned for taking innovative solutions to market and solving problems globally thanks to our patented technology. Adding a youth product to our portfolio of products further strengthens our value proposition and will help the underserved community where there are still markets in the SEPA region that have no payment card for under 18’s accessibility. REPX wanted a solution that will help to service these young people and their families through a virtual card in App with contactless to facilitate mobile, online and instore transactions in a secure way by utilizing data protection tools that REPO has installed in the solution to keep children safer with privacy first payments.”
Peter S. Pellulo, Chief Executive Officer of REGO, said: “This is a significant partnership opportunity. REPX is an innovative fintech, known for connecting celebrities, influencers, sports teams and brands with fans of all ages. Providing families with safe, secure commerce experiences is critical to REPX’s success, which has been the mandate of REGO since its inception. Our privacy-first, COPPA and GDPR certified solutions also address the recent enacted Children’s Code in the UK in 2021. Together, we have a unique opportunity to quickly expand across Europe.”
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