PALM BEACH, Fla., March 27, 2017 /PRNewswire/ -- REGO Payment Architectures, Inc. (REGO) (OTCQB: RPMT) signed a definitive agreement with Be Informed BV effective July 2017 for the company's commercial launch of its unique digital mobile payment system. This agreement follows the development MOU signed in November of 2016. The terms and conditions allow REGO's COPPA compliant OINK payment platform unlimited use of its developed technology to be available to children and their families for direct mobile payments.
OINK is an all digital mobile payment system with Peer to Peer transfers, fully automated parental controls and multiple layers of security. The parental controls provide flexibility for managing a child's funds while ensuring privacy and protecting the transactions. Children will have the freedom to shop while learning financial discipline all within the constraints set by their parents.
John Coyne CEO of REGO said, "I knew that the Be Informed development platform would accelerate our development of our unique payment platform for the under 18 market. It has proven to be a very successful environment and allowed us to integrate our mobile application simply and seamlessly."
The terms of the agreement are confidential but based upon familial usage rather than individuals. Geert Rensen a director of Be Informed stated, "the familial model allowed REGO and Be Informed to enter into a license that facilitated both our financial goals while satisfying needs of REGO's targeted OINK audience." Coyne followed up with, "this simplified approach means that we do not have to account for multiple children in the family as users. It is also appropriate because it is the parents that sign up for the service."
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SOURCE REGO Payment Architectures, Inc.