BLUE BELL, PA — Rego Payment Architectures, Inc. (OTCQB: RPMT) recenlty announced it has secured a $20 million line of credit from one of 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.
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