03:03 PM EDT, 04/11/2024 (MT Newswires) -- RevoluPAY EP S.L., a wholly owned subsidiary of RevoluGROUP Canada Inc. ( MPSFF ) , announced Thursday a "strategic" white-label agreement with the German payment services provider OZANK GmbH.

A statement noted the white-Label agreement focuses on the use of RevoluSEND services through API integration [the process of using APIs to connect two or more software systems] to enable OZANK to expand its transaction network to include countries like India, North America and Mexico, China, Philippines, Indonesia, Singapore. Malaysia. UAE and Turkey.

Gavin McMillan, CEO and Director of RevoluGROUP, in the statement said, "Our cloud-based payment-as-a-service model delivers the global settlement fabric, reach, speed, and payment cost efficiency necessary to support financial technology companies, Neobanks, enterprise and global organisations without relying on traditional banking institutions."

According to Thursday's statement, German annual remittances are estimated to be over US$2.8 billion.