BLUE BELL, Pa., Sept. 20, 2021 /PRNewswire/ -- REGO Payment Architectures, Inc. ("REGO") (OTCQB:RPMT) and its super app digital wallet platform, Mazoola,SM allows parents and guardians to enable online and in-person shopping and digital spending capabilities for their kids at approved retailers, control what funds are available for which purchases, reward completed chores, pay an allowance, and encourage social responsibility.
As mobile wallet adoption continues to rapidly increase, child privacy is a critical concern. Mazoola is the first and only independently certified COPPA compliant family mobile wallet. The super app is "Powered by Privacy," ensuring that kids and teens can safely and securely participate in commerce in an evolving digital economy.
"Mazoola was built from the ground up – by parents concerned about exposure of unregulated marketing, concerned that their child's personal information would fall in the wrong hands," said REGO Head of Strategy Dan Aptor. "We are not simply another Digital Debit Card. Our mission is simple - give kids the power of a mobile wallet, teach them about money management, but power our solution with privacy to ensure they always remain safe – because a child's privacy matters."
REGO's technology 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. This enables Mazoola to provide its COPPA and GDPR compliant service. In an increasingly contactless economy, Mazoola offers a variety of valuable capabilities such as immediate access to account (no physical cards), one-click integration with Apple Pay and Google Pay, charitable giving to over 300,000 nonprofit organizations, extensive parental and guardian controls, robust reward and goal management and non-nuclear family enrollment for dual parenting.
Mazoola is available as a free download in Apple's App Store and Google Play Store and is currently offering families a one-year membership at no cost with the ability to cancel anytime. The app easily tracks how much money kids and teens have earned to help them learn to save for what matters most. To find out more about Mazoola, head to mazzoola.co and follow the conversation on Instagram (@mazoolawallet) and Facebook (facebook.com/Mazoolawallet).
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.
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.
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.
SOURCE REGO Payment Architectures, Inc. (“REGO”)