The company confirmed that these fundamental financial conduits are now live and operational. As central components of the company's future, these transactional conduits are vital to the interoperability sought by worldwide RevoluPAY wallet holders who seek to embrace Open Banking as a cost-effective high-street bank replacement. Furthermore, these integrations are the key to launching and unleashing some of the company’s pending large-volume revenue platforms of RevoluREALTY, RevoluFIN, RevoluBET, and others yet unreleased publicity.
In August 2022, RevoluPAY became an affiliate member of Visa, permitting the gradual inclusion of Visa Financial Technology into all facets of RevoluPAY. The company has begun the integration of Visa Direct Technology and expects to begin live trials with select users in April 2023. The company expects the Visa Direct Technology to be live for all RevoluPAY users by May 2023.
The remaining regulatory step is now final transactional compliance. The company reminds shareholders that this step cannot and does not include RevoluGROUP participation. Shareholders will remain closely informed regarding the final step of suitor EU transactional compliance approval, which in management's opinion, is the final required step before management can submit to shareholders the entire equity investment terms and disclose the European Financially Regulated acquirers.
In April 2020, RevoluPAY has been granted the Pan-European PSD2 license by the Central Bank of Spain. RevoluGROUP became the first Canadian company to be granted a banking licence via the company’s Barcelona-based wholly-owned subsidiary RevoluPAY S.L.
Later on, in October 2020, RevoluGROUP Canada introduced the RevoluSEND remittance vertical, which will initially support money transfers to 27 countries, reports Electronic Payments International. The same month, RevoluGROUP Canada retained the Vancouver, BC Law firm Tupper, Jonsson & Yeadon to assist in the preparation of a license application to FINTRAC.
In 2018 RevoluGROUP wholly owned subsidiary RevoluPAY petitioned for a proprietary PSD2 license granted to the Company on 21 May 2020. In a few months after that, the company signed bilateral agreements with banks and financial institutions.
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