Rego Payment Architectures, Inc. Announces Upcoming Release of Mazoola Version 3.0 and Its Unique “Super App” Capabilities
July 19, 2021 at 07:00 am EDT
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REGO Payment Architectures, Inc. announced the upcoming launch of its MazoolaSM version 3.0, a digital-wallet platform that allows children to fully participate in the digital economy in a secure and protected manner. The super app is scheduled to be released August 9th and expected to quickly become a perennial leader in the family neobanking, digital wallet space. As the only certified COPPA and GDPR compliant super app and with mounting pressure to protect children’s identity, MazoolaSM is uniquely positioned to address the 70M+ Gen Z Kids and Teens commerce needs, who are rapidly beginning to dabble with credit and payment platforms. Rego’s technology is protected by three patents: (System and Method for Virtual Piggy Bank, System and Method for Verifying the Age of an Internet User, and Virtual Piggybank Having Quick Connect). This enables MazoolaSM to provide its COPPA and GDPR compliant service. With MazoolaSM, children purchase items on-line and in-store, as well as conduct peer-to-peer transfers. Users maintain a digital wallet with cash, savings and accounts to develop financial literacy in an increasingly contactless economy. Version 3.0 will introduce additional capabilities such as push provisioning, charity donations, expanded parental and guardian controls, extensive reward management and non-nuclear family enrollment.
REGO Payment Architectures, Inc. is a provider of consumer software that delivers a mobile payment platform, Mazoola, which is a family focused mobile banking solution. The Company offers an all-digital financial payments platform to enable minors, particularly under 13 years old, to transact, complete chores and learn in a secure online environment guided by parental permission, oversight, and control. Its platform can be easily duplicated/commoditized, such as the app skin, Application programming interface (APIs) to retailers, APIs to financial infrastructure, and cloud storage. The Mazoola app and associated digital wallet technology is designed to enable partners to engage families with Gen Z and Gen Alpha youths through a money management, transactional and financial literacy platform that enables young people to make smart decisions. It is also analyzing specific components of technology for individual monetization as well as exploring opportunities in the B2B realm.