Company’s Secure Payment System Allows Children to Shop Online While Teaching Financial Literacy and Remaining COPPA Compliant
REGO Payment Architectures, Inc. announced it has partnered with Cornerstone Payment Systems, Inc. to extend its payment processing options.
REGO is an innovative and unique family-focused mobile banking platform that provides a way for children to shop digitally while being compliant with the Children’s Online Privacy Protection Act (COPPA), the California Consumer Privacy Act (CCPA), and the EU’s General Data Protection Regulation (GDPR). REGO renewed its COPPA compliance certification in July 2019.
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“The partnership with Cornerstone Payment Systems exemplifies the flexibility of the REGO platform to plug-and-play with world-class financial institutions,” said Suzanne E. Kecmer, Founder of SKB Capital. “REGO is well positioned to launch its all-digital family wallet in 2020— in step with robust global demand for privacy, security, and one-of-a-kind financial technology solutions.”
REGO engaged SKB Capital in 2018 to act as its financial advisor for the company’s capital requirements, as well as its long-term corporate strategy.
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The REGO platform allows parents to keep their children safe online and teach financial literacy. It delivers parent-controlled spending, education on saving, and payment or allowance based on goals such as educational milestones or completing household chores, among other features. The platform also enables the 65 million Gen-Z (ages 4-19) shoppers to transact and socialize in a secure online environment guided by parental permission, oversight, and control.
“We are proud to partner with REGO to launch a secure payment system for children,” said Nicholas Logan, Founder and Chief Executive Officer, Cornerstone Payment Systems. “We see this capability gap throughout the global markets we support and are eager to present our client base with this unique financial solution.”
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