BLUE BELL, Pa., June 07, 2021 (GLOBE NEWSWIRE) — REGO Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT) today announced that Rick Lane, a longtime technology policy and online child safety advocate, has been appointed to its Board of Advisors.
Founded in 2008, REGO’s Digital Family Wallet Technology is a Children’s Online Privacy Protection Act (“COPPA”) and General Data Protection Regulation (“GDPR”) compliant solution for families to help their children manage budgets and track spending. REGO’s flagship product, MazoolaSM, was created for parents who needed a way to allow their children to shop safely online and offline in our web-centric world and to educate children on financial literacy.
With REGO’s commitment to empowering parents to run their household budget while also helping their children to shop safely online, it was a natural fit for Mr. Lane to join the Advisory Board and bring his wealth of knowledge to REGO.
Mr. Lane is the founder and CEO of Iggy Ventures, LLC. Iggy Ventures focuses on advising and investing in companies, projects, and public policy initiatives that can have a positive societal impact. Over the course of his thirty plus year career, Mr. Lane has been engaged in almost every federal technology and privacy legislation, including COPPA. He has also served on a variety of federal, state and local committees, including his participation as a member of the USTR’s Joint Government-Private Sector Committee on Experts on Electronic Commerce; the Federal Trade Commission’s Advisory Committee on Online Access and Security; and the Virginia Attorney General’s Online Child Safety Task Force. Mr. Lane has worked closely with Congress, the Federal Trade Commission and state legislatures on legislation to protect children online, including federal legislation that amended the Communications Decency Act (“CDA”) Section 230 that allows state criminal and civil actions against websites that are knowingly facilitating sex trafficking of minors.
“I look forward to bringing my public policy and business experience on how to protect children online to REGO,” said Mr. Lane. “For too long, businesses have tried to shoehorn COPPA compliant features into existing products. What enticed me to work with REGO is that as we enter this new phase of online and offline digital commerce, REGO has built their digital wallet from the ground up to be COPPA and GDPR compliant. Providing parents with easy-to-use digital financial applications that help them protect their child’s privacy is a must,” continued Lane.
“We are honored to have Mr. Lane join our advisory board and appreciate the business acumen and his strong commitment to protecting children that he brings to REGO. We look forward to working with him, to provide a safer environment for children to transact in the digital economy,” said Peter S. Pelullo, Chief Executive Officer of REGO.
Mr. Lane has gained the trust of numerous online child safety experts, including Hemu Nigam, former head of safety for News Corp. and MySpace and a leading expert on online child protection.
“Mr. Lane has been at the forefront of some of the most cutting-edge challenges facing parents and children online, and in each instance has brought a keen sense of how to intersect technology with policy and actionable solutions,” said, Hemu Nigam, CEO of Cyber Security Affairs.
Lauren Hersh, National Director of World Without Exploitation stated, “Rick’s ability to understand the importance of protecting children in this new digital world is second to none. His insights on how technology and public policy merge has been invaluable to our efforts to protect children.”
Dawn Hawkins, the CEO of the National Center on Sexual Exploitation, one of the leading child safety groups stated, “We constantly rely on Rick’s technology policy and business expertise to guide us in our efforts. His ability to take complex tech policy issues and make them understandable has been incredibly helpful to our efforts to create safer online spaces. He will be a great asset to REGO.”
Safe Harbor Statement
The information in this press release may contain forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about us that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, the absence of any material operating history or revenue, our ability to attract and retain qualified personnel, our ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of our services and products, our limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by us in Item 1.A “Risk Factors” in our most recent Form 10-K; other risks to which our Company is subject; other factors beyond the Company’s control.
All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. The Company has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.
About REGO Payment Architectures, Inc.
REGO is a digital solution that enables children to stay safe in today’s tech-first environment. The REGO Digital Wallet platform allows parents and guardians to enable online shopping or digital spending at approved retailers, control what funds are available for which purchases, and reward children or pay allowance via the app. REGO is an innovative financial platform uniquely positioned due to its Children’s Online Privacy Protection Act (COPPA) and General Data Protection Regulation (GDPR) compliance. Visit us at regopayments.com
Scott A. McPherson
REGO Payment Architectures, Inc.
325 Sentry Parkway, Suite 200
Blue Bell, PA 19422