RevoluPAY Enhances Financial Solutions for Humanitarian Aid with MillionBridges and the Norwegian Refugee Council

Vancouver (Canada) and Barcelona (Spain), April 29, 2024 (GLOBE NEWSWIRE) -- RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2), (Munich: A2PU92) ("RevoluGROUP”) is pleased to announce that their wholly owned subsidiary RevoluPAY SL (RevoluPAY) has entered into an agreement with the Norwegian Refugee Council (NRC) to provide the financial technology platform to facilitate transactions between the NRC and RevoluPAY partner, MillionBridges SL (MillionBridges). The purpose of the agreement is to improve the distribution of international cash aid by incorporating advanced financial technology for efficient and secure transactions directly benefiting recipients. RevoluPAY will manage the transfer of funds from NRC to MillionBridges and then to the beneficiaries, ensuring compliance with global financial regulations and anti-money laundering directives.

Under the terms of the agreement (signed on April 8th, 2024 but requiring compliance and administrative review prior to execution) with the Norwegian Refugee Council (NRC), it is anticipated that NRC will transfer transactions totalling an estimated value of $500,000 USD per month that will ramp up over a 1-3 month period. While the agreement between MillionBridges and NRC is based on an annual basis, the amount of funds transferred is expected to fluctuate on a month-to-month basis, allowing for flexibility and adjustability in response to the evolving needs of both parties involved. RevoluPAY will earn a minimal percentage of the total value of transactions transferred, which is inline with industry standards, and reflects the commitment to supporting NRC's humanitarian efforts efficiently and effectively.

Alfredo Manresa, Director of RevoluGROUP and General Manager of RevoluPAY, stated, "Our innovative global settlement network is poised to make a significant impact in how humanitarian aid is facilitated. By leveraging RevoluPAY's technology, we ensure not only the efficient but also the secure transfer of funds to those in dire need, adhering strictly to global standards."

RevoluPAY's critical role in this collaborative effort is underscored by its capability to transfer fast and efficient funds to Lebanon through its expansive global settlement network. This system is integral to the reliability of the financial distribution framework, ensuring that aid reaches those in need promptly and securely. The collaboration between RevoluPAY, MillionBridges, and the Norwegian Refugee Council is deeply rooted in transparency, accountability, and efficiency principles. By harnessing these values, the partnership aims to significantly enhance the process of distributing international aid, making it more accessible and practical for crisis-affected communities in Lebanon and beyond. This endeavour demonstrates the potential of fintech solutions in humanitarian contexts and sets a new standard for the delivery of international aid, prioritizing the needs and dignity of beneficiaries.