VANCOUVER, British Columbia, Nov. 15, 2019 (GLOBE NEWSWIRE) — RevoluGROUP Canada Inc. (TSX-V: REVO) (“the Company”) is pleased to announce that RevoluPAY S.L. has converted the MOU signed on May 31st 2019 to a Definitive Agreement (“DA”) with RedCHAPINA S.A, on November 14th 2019. The DA is signed by RevoluPAY CEO, Alfredo Manresa and, Daniel Asturias, CEO of RedCHAPINA, for RevoluPAY® e-Wallet family remittances and cash advances for visiting tourists, to be collected at over 2000 agencies controlled by www.RedCHAPINA.com in: Mexico, El Salvador and Guatemala. The 3 countries receive collectively, approximately US$50Bn in annual remittances. The parties have agreed upon delivery commissions payable to RedCHAPINA, independent of the amount sent, of between $2.00 and $2.35 USD per individual beneficiary delivery into: Mexican, Salvadoran and Guatemalan territories. The technical linking of mutual payments settlement systems and, the mechanism for the instant delivery of worldwide remittances and, tourism focused cash-advances in Mexico, El Salvador and Guatemala is now firmly underway. The company would also like to thank Advisor, Emilio Morales, for his assistance in concluding this milestone Definitive Agreement.
About RedCHAPINARedCHAPINA, headquartered in Guatemala, currently provides logistical payment deliveries for many of the world’s largest remittance companies. RedCHAPINA has direct agreements with over 2000 physical cash delivery bureaus across the length and, breadth of: El Salvador, Guatemala and Mexico, servicing extensively: major cities, smaller towns and, villages in all three countries.Mexican RemittancesInternational remittances to Mexico set historic record for third consecutive year with US$36bn in 2018.Guatemala RemittancesRemittances to Guatemala increased to US$9.28Bn in 2018 up from US$8.19Bn in 2017.El Salvador RemittancesFamily remittances to El Salvador had another record-breaking year, reaching US$5.47bn in 2018. Last year’s remittances growth rate was 8.4%, according to the country’s central bank.Links utilized in this news release
RedCHAPINA – http://www.redchapina.com/Mexico Remittance Data – https://www.worldbank.org/en/news/press-release/2019/04/08/record-high-remittances-sent-globally-in-2018El Salvador Remittance Data – https://www.bnamericas.com/en/news/remittances-to-el-salvador-hit-record-in-2018Guatemala Remittance Data – https://tradingeconomics.com/guatemala/remittancesAbout RevoluPAY®The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector specific, technology of which, the resulting source code is the property of the Company. RevoluPAY’s built-in features include: Leisure payments, Travel Payments, Retail and Hospitality payments, Remittance Payments, Real Estate Payments, pay-as-you-go phone top-ups, Gift Cards & Online Credits, Utility Bill payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L operates under European E-money – Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity. RevoluGROUP Canada Inc. controls 5 wholly owned subsidiaries on 4 continents.About RevoluGROUP Canada Inc.:
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