Paves the Way for Worldwide Access to Payment Solutions for the Unbanked in Regions across the Globe
AUSTIN, TX, June 23, 2008 – Rêv Worldwide, a global network of payments companies for underserved markets with operations in Latin America, Europe and Asia Pacific, today launched a groundbreaking new platform created to drive widespread commercial availability of new and emerging payment solutions for billions of underserved consumers worldwide. Rêv offers the industry’s only platform focused on international underserved markets, providing seamless global connectivity and universal language and currency support to carry transactions across countries, currencies and payment types, including card-based, mobile, retail and online transactions. Rêv Worldwide encompasses RêvEurope Payments Limited, Rêv Latin America, Inc. and Rêv Asia Pacific.
More than 2 billion people around the world are currently excluded from access to basic financial services. New and emerging payment platforms that arise as part of the evolution and convergence of banking services with mobile communications are widely viewed as promising avenues for reaching these customers with relevant products and services. Turning that promise into reality requires making it simple and cost-effective for providers to deliver and for consumers to adopt new payment solutions anywhere in the world.
“Payment innovations like prepaid and mobile payments put financial services within reach of underserved markets,” said Richard Child, executive chair, international strategy and corporate development for Rêv Worldwide and former Executive Vice President of MasterCard International. “Given the rapid pace of evolution we are witnessing in the payments industry today, our ability to expand and deliver on that promise of financial empowerment requires not only global reach but also the utmost speed.”
Powering the New Era of Financial Inclusion With seamless global connectivity and universal language and currency support, Rêv’s processing capabilities are ideally suited for delivering payment solutions to underserved consumers. Rêv can extend its growing retail financial services network anywhere in the world; develop and support payment programs in any market while adapting to local currencies, customs, languages and laws; and sustainably support cost and fee structures that are attractive to its retail and banking partners while at the same time offering an accessible offering that promotes the long-term financial well-being of underserved customers.
“We conceived Rêv out of the belief that everyone in the world deserves the same access to trusted payment solutions that allow them to play a part in today’s mainstream economy,” said Roy Sosa, CEO, MPOWER Ventures and Chairman, Rêv Worldwide. “With the majority of the world’s underserved living outside of the U.S., we knew that bringing access to basic financial services on a global scale would require us to focus outside of the U.S. and to build a platform to support it, a network capable of serving the dreams of underserved consumers in any market in the world.”
Rêv Worldwide Products and Services
Rêv Worldwide’s products and services connect underserved consumers seeking access to mainstream financial benefits with financial institutions, telecommunications companies and merchants in lasting economic relationships through mobile and next-generation payment solutions. With the following core offerings, Rêv gives partners rapid, cost-effective access to new markets and brings underserved consumers convenient, safe, affordable and reliable new ways to pay:
- Partner Services – With deep payments and market expertise, RÊV helps partners develop and market custom payment programs that meet the unique challenges of serving the unbanked population in their market, shorten product development cycles and accelerate market adoption. From concept development to rollout, Rêv supports the entire process with expert capabilities including brand development, marketing, risk management, regulatory compliance, product management and customer service.
- Worldwide Network – Rêv’s growing international retail distribution and reload network for new and emerging payment solutions gives customers access to their money anywhere in the world by plastic, phone or online to make purchases, send money or pay bills. Rêv supports transactions through all major payment networks, including MasterCard and VISA. Rêv network partners include banks, processors, point-of-sale (POS) providers and ATM networks.
- Innovative Payment Products – Rêv offers a broad range of innovative payment products through partners and directly to consumers, including Rêv branded, co-branded and affinity programs. Rêv focuses on developing payment solutions tailored to the needs of underserved consumers including card payments and payment processing, mobile payments, reload networks, loyalty programs, remittance and bill payment.
Availability
Rêv Worldwide products and services are under development with pilots in Eastern Europe and Latin America. For information on partnering with Rêv, send inquiries to partners@rêvworldwide.com. Rêv Worldwide is a member of the MPOWER Ventures portfolio of companies.
