REGO Payment Architectures, Inc. Unveils Payment Platform Allowing Minors to Transact on Merchant Sites That Present Mazoolapay
April 21, 2021 at 07:00 am
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REGO Payment Architectures, Inc. announced MazoolaPaySM, a two-sided payment solution that connects merchants, financial partners and consumers through a COPPA (Children’s Online Privacy Protection Act) and GDPR (General Data Protection Regulation) compliant payment platform. Merchants are enabled to directly transact with children while maintaining privacy and consent compliance. Children can transact on-line or in-store, everywhere MazoolaPaySM is presented. How MazoolaPaySM Works: Guardian-Defined Shopping Experience: Conform the child's on-line activity automatically within a rule base that is pre-set and defined by the guardian. Chore management, allowance transfer, and spend controls are just some of the techniques the platform uses to encourage enhanced financial literacy dialog between guardians and children. Check-Out Process: Users can complete transactions using MazoolaPaySM where presented. After placing an order, customers can use the MazoolaSM app to view their order invoice. For in-store purchases, QR codes are enabled for a touch-free experience at point of sale. Reporting: Guardians receive visibility into children’s buying behaviors. MazoolaPaySM is an opt-in platform for guardian users. COPPA/GDPR compliance allows for the dissemination of transactional data on an anonymized basis. REGO will be offering informational webinars and sandbox opportunities for both retailers and e-commerce platforms.
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.