Revolugroup Canada Inc. [REVO-TSXV] announced this morning that its RevoluPAY EP SL product has received approval from BBVA Transfer Services (BTS) to incorporate 52 Brazilian banks into RevoluSEND. The addition of these banks is expected to substantially increase the RevoluSEND reach into Brazil’s approximately 2.9B US$ annual remittance market. Brazil is also an emitter of remittances, with Canada being one of the top destinations. RevoluSEND expects to offer these banks to remittance senders and receivers from 1st Jan 2021.
BBVA Transfer services is a subsidiary of BBVA USA, itself a subsidiary of Top 40 World Bank, Banco Bilbao Vizcaya Argentaria, S.A. (BBVA). BBVA USA provides commercial and retail banking through 637 branches in Texas, Alabama, Arizona, California, Florida, Colorado, and New Mexico. In November 2020, prominent U.S. Bank PNC signed an agreement to acquire BBVA USA. PNC’s agreement to acquire BBVA USA Bancshares, Inc., and its U.S. banking subsidiary, BBVA USA, if ultimately approved by regulators, is a deal through which PNC will become a top-five U.S. bank with a coast-to-coast national franchise.
RevoluGROUP Canada Inc. is a multi-asset, multidivisional publicly traded Canadian Company deploying advanced technologies in the; Banking, Mobile Apps, Money Remittance, Mobile Phone Top-Ups, EGaming, Healthcare Payments, Esports, Invoice factoring, Online Travel, Vacation Resort, Blockchain Systems, and Fintech app sectors. Click here to read more.