BLUE BELL, Pa., March 03, 2020 (GLOBE NEWSWIRE) — REGO Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT) today announced it has received GDPRkids™ Trustmark from PRIVO. This demonstrates that REGO meets the requirements of the European Union’s General Data Protection Regulation (GDPR) with the highest standards for children’s privacy. This includes confirming the age of consent, protecting children’s data, and having a clear privacy policy that is easy to understand for children, among other requirements.
REGO’s GDPRkids™ Trustmark joins REGO’s COPPA Safe Harbor certification with PRIVO, which is a Federal Trade Commission approved designation certifying that REGO is protecting children while allowing them to engage in today’s digital world. The Children’s Online Privacy Protection Act (COPPA) was enacted in 1998 in the U.S. and remains the nationwide standard for children’s privacy protection in the United States.
“REGO has gone to great lengths to ensure that they are handling child privacy compliantly and are meeting the highest standards to deliver an age-appropriate safe environment for kids,” notes Denise G. Tayloe, PRIVO’s co-founder and CEO. “We are delighted to have them in our Kids Privacy Assured Program and look forward to continuing to build on their good work as they develop their experiences for children,” added Tayloe.
“For REGO to achieve this compliance required a stringent and comprehensive review of its data security and data privacy practices, and is accredited to the company’s focus on children, as the platform was built with this type of security and privacy in mind since inception,” said Suzanne E. Kecmer, investment banking lead for REGO and founder of SKB Capital. “Strategically, REGO will be a strong global partner to any institution seeking to build a family wallet capability, especially financial and social media-based institutions. In addition, this compliance underscores that REGO is postured to address any further adoption of more stringent policy development for minors in the United States, such as the California Consumer Privacy Act (CCPA).”
The platform is a secure mobile banking solution for families. It allows children to shop from parent-approved retailers, deliver peer-to-peer payments, teaches financial literacy, all while keeping identities safe.
REGO Digital Wallet is an unprecedented platform focused on families’ digital safety. It has patented attribution and identity management methods, patented real-time access and data control, and independent verification, validation, and auditing techniques, among other core capabilities.
PRIVO is an independent organization committed to safeguarding children’s personal information collected online. In order to obtain PRIVO Trustmarks, REGO is assessed on an ongoing basis to ensure it meets all requirements for privacy and identity management.
REGO Digital Wallet is available for partnering institutions. The consumer version of REGO Digital Wallet has an anticipated release in 2020. Learn more at regopayments.com.
Safe Harbor Statement
The information in this press release may contain forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about us that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, the absence of any material operating history or revenue, our ability to attract and retain qualified personnel, our ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of our services and products, our limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by us in Item 1.A “Risk Factors” in our most recent Form 10-K; other risks to which our Company is subject; other factors beyond the Company’s control.
All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. The Company has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.
About REGO Payment Architectures, Inc.
REGO is a digital solution that enables children to stay safe in today’s tech-first environment. The REGO Digital Wallet platform allows parents and guardians to enable online shopping or digital spending at approved retailers, control what funds are available for which purchases, and reward children or pay allowance via the app. REGO is an innovative financial platform uniquely positioned due to its Children’s Online Privacy Protection Act (COPPA) and General Data Protection Regulation (GDPR) compliance. Visit us at regopayments.com.
About SKB Capital, LLC
SKB Capital is a corporate advisory services firm specifically focused on non-traditional advanced technologies. The company provides strategic planning, business development, board advisory, and investment banking services. Learn more at skbcapital.com.
About PRIVO
PRIVO is the leading global industry expert in children’s online privacy and a recognized authority in the minors’ digital identity and consent management marketplace ensuring minors’ privacy while advancing a robust, global digital ecosystem. As an FTC approved COPPA Safe Harbor since 2004, certifying hundreds of apps, sites and games that are top performing and well-known kid brands, PRIVO has been developing privacy solutions to empower positive, transparent and secure online relationships between companies, families and schools. PRIVO’s signature Kids Privacy Assured Program helps companies navigate the online privacy landscape from COPPA, GDPR to the numerous student digital privacy laws in addition to offering compliant technology solutions that include youth registration, age verification, parental consent and account management. www.privo.com
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