REGO Payment Architectures, Inc. Finishes Series C Funding to Enhance Secure Mobile Banking and Shopping for Children and Families
BLUE BELL, Pa., May 10, 2021 (GLOBE NEWSWIRE) -- REGO Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT) today announced it has completed its Series C funding to bring the total to $13.0 million. The funding will allow REGO to market its secure mobile banking solution to families in the U.S. and the European Union.
Manole Capital and the Manole Fintech Fund led the completion of REGO’s $13.0 million Series C Convertible Note.
Manole Capital CEO, Warren Fisher said, “We are excited to invest in REGO Payment Architectures, Inc. (“REGO”) and look forward to seeing how they expand their leadership position in the growing parent/child payment space. REGO truly understands COPPA (“Children’s Online Privacy Protection Act”) and is the leading Fintech app, allowing children and teens to safely transact online and at physical, brick and mortar retailers. We believe smart banks and financial institutions will look to white-label REGO’s compliant payment platform.”
REGO’s Digital Wallet is an unprecedented family-focused financial solution. It allows children to shop from parent-approved retailers, deliver peer-to-peer payments, teaches financial literacy, all while keeping identities secure. It has patented attribution and identity management methods, patented real-time access and data control, and independent verification, validation, and auditing techniques, among other core capabilities.
REGO’s Digital Wallet received the GDPRkids™ Trustmark from PRIVO in early 2020 demonstrating that REGO meets the requirements of the European Union’s General Data Protection Regulation (GDPR), as well as COPPA Safe Harbor certification with PRIVO, which is a Federal Trade Commission approved designation certifying that REGO is protecting children as they make online purchases.
Safe Harbor Statement
The information in this press release may contain forward-looking statements on our 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 us that may cause our 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 our expectations include, but are not limited to: our ability to raise additional capital, the absence of any material operating history or revenue, our ability to attract and retain qualified personnel, our ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of our services and products, our 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 us in Item 1.A “Risk Factors” in our most recent Form 10-K; other risks to which our Company is subject; other factors beyond the Company’s control.
All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. The Company 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.
About REGO Payment Architectures, Inc.
REGO is a digital solution that enables children to stay safe in today’s tech-first environment. The REGO Digital Wallet platform 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 us at regopayments.com
Scott A. McPherson
REGO Payment Architectures, Inc.
325 Sentry Parkway, Suite 200
Blue Bell, PA 19422