CUV Ventures Corp. EZPAY Costa Rica Definitive Agreement For RevoluPAY® Remittance Deliveries To Costa Rica
August 28, 2019
Vancouver, BC – CUV Ventures Corp. (TSX-V: CUV) Vancouver, BC – (the “Company”) is pleased to announce that, further to the news releases dated 15th April 2019, it has signed a definitive agreement (“DA”) with PHILLGUS DE CENTROAMERICA S.R.L. trading as EZPay Costa Rica, on August 27th 2019. The “DA”, is signed by RevoluPAY S.L CEO, Alfredo Manresa and, Gustavo A. Reyes, CEO of EZPay for RevoluPAY® e-Wallet family remittances and cash advances for visiting tourists, to be collected at over 50 agencies controlled by EZPay www. phillgusca.com in Costa Rica. The parties have agreed upon delivery commissions payable to EZPay, independent of the amount sent, of $2 (two) USD per individual beneficiary delivery into Costa Rican Territory. The technical linking of mutual payments settlement systems and, the mechanism for the instant delivery of worldwide remittances and, tourism focused cash-advances in Costa Rica is now underway.
EZPay, headquartered in San Jose, Costa Rica, currently provides logistical payment deliveries for many of the world’s largest remittance companies. EZPay 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. As a secondary advantage to this new agreement, the company’s RevoluVIP platform (page 17) now offers specific travel deals to Costa Rica on the VIP country website therefore, the new agreement with EZPay will allow visiting tourists easy access to local currency through their RevoluPAY® app. Its is estimated that 1.7 Million Tourists visit Costa Rica each year from the United States and Canada, generating approximately $1.7 billion US dollars.
South American Remittance Focused Definitive Agreements
The Company’s legal team is currently finalizing the conversion of previous remittance focused MOU’s and LOI’s into Definitive Agreements (“DA”) with: Easy Pagos (Ecuador), Grupo Eficacia (Guatemala, El Salvador, Nicaragua) RedCHAPINA (El Salvador, Guatemala, Mexico) and, Interbank (Peru).
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, Worldwide Gift Cards, VCC Cards, VCC Settlement, 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.
Links Utilized In This News Release
EZ Pay - http://www.phillgusca.com/
Costa Rica Remittance data - https://datosmacro.expansion.com/demografia/migracion/remesas/costa-rica
Costa Rica Travel data - http://www.costarica-embassy.org/index.php?q=node/19
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 150,322,712 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.