RevoluGROUP Canada Inc. (TSX-V: REVO), (Frankfurt: IJA2) (the “Company”) is pleased to announce that RevoluPAY EP S.L. has signed a Definitive Agreement (“DA”) with Thunes on November 23rd, 2020. The DA, approved between RevoluPAY CEO Alfredo Manresa and Adrien Antoni, Director of Thunes, permits, with immediate effect, RevoluPAY® family remittances at over 9,000 collection partner agencies offered by www.thunes.com in +100 countries. The parties have agreed upon delivery commissions payable to Thunes, independent of the amount sent and per individual beneficiary delivery and origination via RevoluPAY.
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The Scope of The Thunes Accord
Today’s agreement with Thunes expands the reach of the Company’s remittance vertical RevoluSEND into supplementary countries, adding 38 nations previously unavailable, most notably crucial high volume remittance markets (Denoted Bold). The addition of Brazil, Chile, and Haiti in South America. Asia Pacific & South Pacific regions include Australia, Bangladesh, Cambodia, China, Fiji, Hong Kong, India, Indonesia, Malaysia, Mongolia, Myanmar, Nepal, Pakistan, Philippines, Samoa, Singapore, South Korea, Sri Lanka, Thailand, Tonga, and Vietnam. Countries on the African continent also experience an increase with the addition of Benin, Botswana, Burundi, Chad, Congo, Ethiopia, Gabon, Guinea-Bissau, Malawi, Mauritania, Niger, Somalia, Togo, and Zimbabwe. While already featured on RevoluSEND through alternative remittance partnerships, the remaining countries included within the Thunes agreement will experience an increase in remittance collection points, allied to additional national and provincial remittance delivery coverage.
In 2019, in USD, the top four remittance recipient countries were India (83.1 billion), China (68.4 billion), Mexico (38.5 billion), and the Philippines (35.2 billion). Additionally, today’s inclusion of China further permits the Company to ultimately pursue the Chinese Payment Processor Definitive Agreement (“DA”) disclosed in the 19th June 2018 news release.
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