This agreement follows the development MOU signed in November of 2016. The terms and conditions allow REGO’s COPPA compliant OINK payment platform unlimited use of its developed technology to be available to children and their families for direct mobile payments.
Oink is an all-digital mobile payment system with Peer to Peer transfers, fully automated parental controls and multiple layers of security. The parental controls provide flexibility for managing a child’s funds while ensuring privacy and protecting the transactions. Children will have the freedom to shop while learning financial discipline all within the constraints set by their parents.
John Coyne CEO of REGO said, “I knew that the Be Informed development platform would accelerate our development of our unique payment platform for the under 18 market. It has proven to be a very successful environment and allowed us to integrate our mobile application simply and seamlessly”.
About REGO Payment Architectures
REGO Payment Architectures is the creator of OINK, the only COPPA compliant technology aimed at providing payment capability for the under 18 market. OINK allows parents and their children to manage, allocate funds and track their expenditures, savings and charitable giving online. The system is designed to allow a minor to transact online without a credit card by gaining the parents’ permission ahead of time and allowing the parent to set up the rules of use.
Founded on validated artificial intelligence techniques, REGO's core base of technology has broad capability to create revolutionary advancements in a broad range of payment markets. This core technology comprises: ReTRO (Real Time Regulatory Oversight) a system of reasoning engines and a Contract Model (CM) that allows the creation of specific boundary conditions for payments. In totality, these underlying technologies make for a powerful and adaptive system that can be applied to many other innovative payment solutions.