In December, we looked at ways fintech companies are making inroads into banking: partnering with banks to offer their services, obtaining bank charters, or seeking alternative structures such as the industrial loan company (ILC) charter. This month we are examining some of the regulatory issues that have surfaced with these new entrants.
Fintech Regulation 101
Just as with banks, there is no single licensing or regulatory agency that oversees fintech companies. Depending on their activities, they can be licensed or supervised by local, state or federal regulators on a functional, or activity-based, basis.
Prudential (safety and soundness) regulation and licensing are generally handled at the state level for services such as lending, money transmission and insurance. For example, PayPal, one of the oldest fintech firms, has money transmission licenses in all 50 states and has a regulator for each state or territory in which it operates.
RevoluGROUP Canada Inc. has reached an agreement on 11th February 2021 to integrate the large, highly recognized Chinese Payment processing entity ALIPAY into RevoluPAY and upcoming white-label platforms.
RevoluGROUP Canada Inc. (TSX-V: REVO Frankfurt: IJA2) is pleased to announce that it has reached an agreement on 11th February 2021 to integrate the large, highly recognized Chinese Payment processing entity ALIPAY into RevoluPAY and upcoming white-label platforms. Final coding integration has already commenced and is expected to conclude by the 14th of March 2021.
About ALIPAY
ALIPAY is a brand of Alibaba’s fintech affiliate Ant Group formerly known as Ant Financial. The group owns China’s most prominent digital payment platform Alipay, which serves approximately 1.3 billion users and 80 million merchants worldwide. Alipay maintains a 54% share and Tenpay 39% of the Chinese mobile-payments market by value. However, unlike competitor Tenpay, Alipay opened its online p
RevoluGROUP Canada Inc. To Issue 1 Million Stock Options
VANCOUVER, British Columbia, Jan. 07, 2021
RevoluGROUP Canada Inc. (TSX-V:
(Frankfurt:
IJA2) (the “Company”) is pleased to announce that incentive share options to purchase up to 1,000,000 common shares of the Company were granted today to officers, directors, employees, and consultants of the Company, with an exercise price of $0.33 per share. The options have been granted pursuant to the Company’s 10% rolling stock option plan and will expire one year from the grant date.
Reduction of Available Options and Exercise Term
The Company has chosen to issue options at this time to reduce the rolling volume of options issuable. Furthermore, the timeframe of expiration is reduced to one year. Should all the today announced options be exercised in the term, the aggregate amount payable to the treasury would be CA$ 330,000.