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  • RevoluGROUP Canada (REVO) has sent one of its advisors to pursue the petition of a Payment Service Provider in Dubai
  • In May 2020, RevoluGROUP’s multinational payment app, RevoluPAY, was granted the European PSD2 license
  • It plans to use the PSD2 license to augment banking competition and engender participation in the payments industry from non-conventional banks
  • The MEASA region is a significant financial hub that necessitates exposure for both financial operations and a strategic base for the region’s operations
  • RevoluGROUP Canada opened 10 per cent up this morning for 30 cents per share

RevoluGROUP Canada (REVO) has sent one of its advisors to pursue the petition of a Payment Service Provider in Dubai.

Erik Lara Riveros will pursue the petition at the Dubai International Financial Centre, a global financial centre and leading financial hub for the Middle East, Africa and South Asia (MEASA).

In May 2020, RevoluGROUP’s multinational payment app, RevoluPAY, was granted the European PSD2 license. The second Payment Services Directive was designed by countries in the European Union. 

According to RevoluGROUP, it plans to use the PSD2 license to augment banking competition and engender participation in the payments industry from non-conventional banks, and to provide a level playing field by harmonizing consumer protection and the rights and obligations for payment providers and users.

The MEASA region is a significant financial hub that necessitates exposure for both financial operations and a strategic base for the region’s operations. RevoluGROUP considers The Dubai International Financial Centre an excellent regional hub, having introduced robust legislation for payment services providers like RevoluPAY.

Furthermore, the DIFC conveniently fills the time zone gap for a global financial centre between London and New York’s leading financial centres in the West and Hong Kong and Tokyo in the East.

Erik is accredited with the Dubai Financial Services Authority, which should aid the company’s plans to obtain the Dubai PSP license and establish a corporate financial hub in the region.

RevoluGROUP Canada opened 10 per cent up this morning for 30 cents per share at 9:58am EST.

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