MazoolaEnabled Offers New Customer Experience; Facilitates New Revenue Stream
BLUE BELL, Pa., Feb. 17, 2021 (GLOBE NEWSWIRE) -- REGO Payment Architectures, Inc. (“REGO”) (OTCQB:RPMT), provider of an all digital-based service allowing children to make purchases anytime, from anywhere using their mobile devices, today announced MazoolaEnabled, a new white-label solution that empowers companies to form their own financial solution dedicated to children and control the entire financial transaction. MazoolaEnabled partners benefit from offering a unique customer experience and a new revenue stream.
Companies are seeking brand new services to offer their customers, especially those that take advantage of contactless payment solutions. Given the regulatory barriers of COPPA (Children’s Online Privacy Protection Act) and GDPR (General Data Protection Regulation), companies cannot easily engage children—particularly under 14 years old. MazoolaEnabled offers companies a win-win solution by facilitating a new platform to legally access this previously untapped market within a cohesive brand presentation for the customer.
- New Revenues: White-labelling enables companies to brand the platform with a tailored logo and branding information, with REGO working entirely behind the scenes. The platform includes cash and savings in addition to learning modules. This allows many different touch points for client engagement.
- Guardian-Defined Shopping Experience: MazoolaEnabled comes equipped with the transparency to conform the child's on-line activity automatically within a rule base that is pre-set and defined by the guardian. Chore management, allowance transfer, and spend controls are just some of the techniques the platform uses to encourage enhanced financial literacy dialog between guardians and children.
- Scalability: MazoolaEnabled can accommodate enhancements and upgrades, such as third-party solutions. With this versatility, companies can design a unique experience for its customers. The platform is extensible for mobile and other device implementations (such as touchscreen tablets). MazoolaEnabled is available worldwide.
- Reporting: Partners receive visibility into children’s buying behaviors. MazoolaEnabled is an opt-in platform for guardian users. COPPA/GDPR compliance allows for the dissemination of transactional data on an anonymized basis.
Peter S. Pelullo, Chief Executive Officer, REGO said: “MazoolaEnabled provides a brand new, opt-in payment gateway to specifically help companies attract younger generations. Customers looking for a consistent medium to safely reach the untapped child consumer will be very interested in this white-labeling offering.”
REGO commercially launched its all-digital family wallet, MazoolaSM, on February 8, 2021. The platform is protected by three patents (System and Method for Virtual Piggy Bank, System and Method for Verifying the Age of an Internet User, and Virtual Piggybank Having Quick Connect) that enables MazoolaSM to provide its COPPA and GDPR compliant service.
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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.
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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, MazoolaSM, 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