Company’s secure payment system allows children to shop online while teaching financial literacy and remaining COPPA compliant
BLUE BELL, Pa., Jan. 14, 2020 (GLOBE NEWSWIRE) — REGO Payment Architectures, Inc. (“REGO” or “the Company”) (OTCQB: RPMT) today announced it has partnered with Cornerstone Payment Systems, Inc. to extend its payment processing options.
REGO is an innovative and unique family-focused mobile banking platform that provides a way for children to shop digitally while being compliant with the Children’s Online Privacy Protection Act (COPPA), the California Consumer Privacy Act (CCPA), and the EU’s General Data Protection Regulation (GDPR). REGO renewed its COPPA compliance certification in July 2019.
“The partnership with Cornerstone Payment Systems exemplifies the flexibility of the REGO platform to plug-and-play with world-class financial institutions,” said Suzanne E. Kecmer, Founder of SKB Capital. “REGO is well positioned to launch its all-digital family wallet in 2020— in step with robust global demand for privacy, security, and one-of-a-kind financial technology solutions.”
REGO engaged SKB Capital in 2018 to act as its financial advisor for the company’s capital requirements, as well as its long-term corporate strategy.
The REGO platform allows parents to keep their children safe online and teach financial literacy. It delivers parent-controlled spending, education on saving, and payment or allowance based on goals such as educational milestones or completing household chores, among other features. The platform also enables the 65 million Gen-Z (ages 4-19) shoppers to transact and socialize in a secure online environment guided by parental permission, oversight, and control.
“We are proud to partner with REGO to launch a secure payment system for children,” said Nicholas Logan, Founder and Chief Executive Officer, Cornerstone Payment Systems. “We see this capability gap throughout the global markets we support and are eager to present our client base with this unique financial solution.”
REGO Digital Wallet is available for partnering institutions. The consumer version of REGO Digital Wallet has an anticipated release in 2020. Learn more at regopayments.com.
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 the only financial platform that is Children’s Online Privacy Protection Act (COPPA), California Consumer Privacy Act (CCPA), and General Data Protection Regulation (GDPR) compliant. Visit us at regopayments.com.
About Cornerstone Payment Systems, Inc.
Founded in 2001, Cornerstone is one of the nation’s leading Christian owned and operated independent sales organizations in the merchant processing industry. Cornerstone offers a full complement of merchant processing services. The Company possesses the expertise to authorize and settle transactions for all major credit cards. Learn more at cornerstonepaymentsystems.com.
About SKB Capital, LLC
SKB Capital is a corporate advisory services firm specifically focused on non-traditional advanced technologies. The company provides strategic planning, business development, board advisory, and investment banking services. Learn more at skbcapital.com.
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