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.”