Rego Payment Architectures, Inc. and Computer Services, Inc. (CSI) Announce Strategic Partnership to Offer Family Digital Wallet to Financial Institutions Nationwide
This partnership enables financial institutions to offer child spending, saving and investing capabilities that comply with COPPA and GDPR.
BLUE BELL, Pa., June 20, 2024 (GLOBE NEWSWIRE) — Rego Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT), the leading white-labeled family digital wallet platform provider for financial institutions, and Computer Services, Inc (“CSI”), a leading provider of end-to-end financial software and technology, announce a strategic partnership to offer REGO’s white-label family wallet to CSI’s robust network of community financial institutions.
“CSI’s partnership with REGO underscores our commitment to strengthening our banking customers’ roles as financial leaders and advisors in their communities,” says David Culbertson, CSI President and Chief Executive Officer. “While the REGO digital family wallet will enable our youth to earn, save and spend under parental supervision, it also offers new ways to educate them about money management and financial literacy.”
The demand for effective financial literacy tools by customers and members of financial institutions continues to increase, as more kids are becoming financially active at an earlier age. According to a report by Cornerstone Advisors, children between five and 17 years have over $360 billion of spending power. REGO provides financial institutions an opportunity to offer a safe, secure digital wallet app experience to build lasting, engaging relationships with families.
“The partnership between REGO and CSI allows their financial institutions to engage future young customers today,” says Peter S. Pelullo, Chief Executive Officer at REGO. “With CSI’s innovative spirit and extensive network of financial institutions and services, REGO is well positioned to complement and expand CSI’s Banking-as-a-Platform offering.”
Built with a privacy-first strategy, REGO provides a range of white-label fintech solutions designed for families to financial institutions nationwide, each certified as COPPA and GDPR compliant. REGO also has multiple patents on technologies that uniquely verify critical information for both child and parent.
For more information about REGO, please visit www.regopayments.com.
About REGO
Rego Payment Architectures, Inc. (“REGO”) is a family digital wallet platform that empowers financial institutions to let their customer’s children spend, save, donate and invest in a safe, parent-controlled environment. Founded in 2008, REGO is the only family digital wallet platform to be certified COPPA (Children’s Online Privacy Protection Act) and third-party GDPR (General Data Privacy Regulation) compliant. REGO has also been awarded multiple patents related to the safety of parent and child data, including age verification of users. Built from the ground-up to protect the privacy of children’s data, REGO offers financial literacy tools for parents to teach their kids to be smarter shoppers, savers, givers and investors. Financial institutions of all sizes can offer a family digital wallet product through REGO as a white-labeled stand-alone application or fully integrated into their existing app.
About Computer Services, Inc
As a forward-thinking software provider, CSI helps community and regional banks, as well as organizations worldwide, solve their customers’ needs through open and agile technologies. In addition to its nearly 60-year reputation for personalized service, CSI is shaping the future of banking by swiftly deploying advanced solutions that help its customers rival their competition. For more information about CSI, visit www.csiweb.com.
Safe Harbor Statement:
The information in this press release may contain forward-looking statements on REGO’s 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 REGO that may cause the 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 REGO’s expectations include, but are not limited to: REGO’s ability to raise additional capital, the absence of any material operational history or revenue, REGO’s ability to attract and retain qualified personnel, the ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of REGO’s services and products, REGO’s 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 REGO in Item 1.A “Risk Factors” in REGO’s most recent Form 10-K; other risks to which REGO is subject; other factors beyond REGO’s control.
All subsequent written and oral forward-looking statements attributable to REGO, or persons acting on REGO’s behalf, are expressly qualified in their entirety by the foregoing. REGO 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.
Media Contact:
For REGO:
Pawan Murthy
Chief Marketing Officer
Rego Payment Architectures, Inc.
pawan@regopayments.com
For CSI:
Zach Price
Red Fan Communications
512-439-9720
media@csiweb.com
