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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

REGO Payment Architectures, Inc. Initiates Alpha Phase and Confirms Beta and Commercial Launch ...

October 12, 2020 GMT

BLUE BELL, Pa., Oct. 12, 2020 (GLOBE NEWSWIRE) -- REGO Payment Architectures, Inc. (“REGO”) (OTCQB:RPMT) today announced that it will launch the Alpha Test Phase of its Digital Wallet, this week with one of the top three user experienced companies in the world, to a select group of customers. The Alpha Test Phase will provide REGO with validation regarding the performance of its Digital Wallet and provide feedback and precipitate further development and third-party integrations in anticipation of its Beta Test Phase and ultimately the general release.

REGO will expand the use of its Digital Wallet to more customers and partners once the Alpha Test Phase is completed. In accordance with REGO’s plan, the Beta Phase is expected to begin on November 15, 2020 in conjunction with REGO’s launch partner Blue Diamond Media. Following the Beta Phase, REGO is anticipating the commercial launch of its Digital Wallet on December 8, 2020.

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REGO’s Digital Wallet is an unprecedented family-focused financial solution. It allows children to shop from parent-approved retailers, deliver peer-to-peer payments, teaches financial literacy, all while keeping identities secure and safe. REGO has patented attribution and identity management methods, patented real-time access and data control, and independent verification, validation, and auditing techniques, among other core capabilities.

Peter S. Pelullo, Chief Executive Officer, REGO said: “I am extremely pleased with the progress that our team has made over the last few months. Our team has worked efficiently and effectively and we will now have a Digital Wallet that will be the vehicle for secure purchasing for children, in accordance with the Children’s Online Privacy Protection Act (“COPPA”) and the European Union’s General Data Protection Regulation (“GDPR”). As COVID-19 is moving society into a contactless environment, our Digital Wallet is positioned to further protect families in their pursuit of online purchases.”

Safe Harbor Statement
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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All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. The Company has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.

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 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

Media Contact:

Scott A. McPherson

REGO Payment Architectures, Inc.
325 Sentry Parkway, Suite 200
Blue Bell, PA 19422

pr@regopayments.com

(o) 267-465-7530