CUV Ventures Corp. EasyPAY Costa Rica MOU for RevoluPAY® Remittance Deliveries to and Originating from Costa Rica
April 15, 2019
Vancouver, BC – CUV Ventures Corp. (TSX-V: CUV) (the “Company”) is pleased to announce that it has it has signed a memorandum of understanding (“MOU”) with PHILLGUS DE CENTROAMERICA S.R.L. operating as EasyPay Costa Rica, on April 10th 2019. The MOU, signed by CUV CEO, Steve Marshall and, Gustavo A. Reyes, CEO of EasyPay, outlines a mutual desire to study the technical requirements for RevoluPAY® e-Wallet family remittances and, cash advances for visiting tourists, to be collected at over 50 agencies controlled by EasyPay www. phillgusca.com in Costa Rica. The parties have agreed to work on a Definitive Agreement (“DA”) concerning bilateral commissions, the technical linking of payments settlement systems and, the mechanism for the instant delivery of worldwide remittances and, tourism focused cash-advances, in Costa Rica. The parties anticipate arriving at a mutually agreeable arrangement very soon. The Company would also like to thank Advisor, Emilio Morales, for his assistance in forging this potentially valuable relationship with EasyPAY.
EasyPay, headquartered in San Jose, Costa Rica, currently provides logistical payment deliveries for many of the world’s largest remittance companies. EasyPAY manages over 50 physical delivery bureaus across the length and, breadth of Costa Rica, servicing: major cities, smaller towns and, villages.
Remittance and Tourism Data for Costa Rica
Costa Rica is estimated to receive over $562 Million USD annually through international remittances. Additionally, Costa Rica is one of few South American nations that is also an originator (sender) of significant remittances. Approximately $900 million USD are sent from Costa Rica to, predominantly, Nicaragua, China and Colombia. Furthermore, Costa Rica remains a popular South American tourism hotspot, with approximately 2.8 million visitors annually. The Company’s RevoluVIP platform (page 17) will offer specific offers to Costa Rica on the VIP country website therefore, the proposed agreement with EasyPAY will allow visiting tourists easy access to local currency through their RevoluPAY® app.
The Company’s flagship technology is RevoluPAY®, the Apple and Android multinational payment app. Built entirely in-house, RevoluPAY features proprietary, sector specific, technology of which, the resulting source code is the property of the Company. RevoluPAY’s built-in features include: Leisure payments, travel payments, retail and hospitality payments, remittance payments, real estate payments, pay-as-you-go phone top-ups, Utility Bill payments, etc. RevoluPAY is powered by blockchain protocols, and, is squarely aimed at the worldwide multi-billion dollar leisure sector and, + $595 billion family remittance market. RevoluPAY® is operated by the European wholly owned subsidiary RevoluPAY S.L located in Barcelona. RevoluPAY S.L operates under European E-money - Directive 2009/110/EC through a licensed electronic money institution or EDE Banking Licensed entity.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multidivisional publicly traded Canadian company deploying advanced technologies in the; Online Travel, Vacation Resort, Mobile Apps, Money Remittance, Mobile phone top-ups, Invoice factoring, Blockchain Systems, and Fintech app sectors.
Our flagship technology is RevoluPAY®, the Apple and Android multinational leisure payments and remittance app, powered by blockchain protocols, and aimed at the worldwide + $595 billion family remittance market. Click here to read more.
For further information on CUV Ventures Corp. (TSX-V: CUV) visit the Company’s website at www.cuvventures.com. The Company has approximately 134,115,000 shares issued and outstanding.
CUV VENTURES CORP.
For further information contact:
CUV Ventures Corp.
Telephone: (604) 685-6465
Toll Free: 800-567-8181
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed to be "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that management of the Company expects, are forward-looking statements. Although management believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. The Company undertakes no obligation to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors, should change. Factors that could cause actual results to differ materially from those in forward-looking statements, include market prices, exploration and development successes, continued availability of capital and financing, and general economic, market or business conditions. Please see the public filings of the Company at www.sedar.com for further information.