In an increasingly contactless world, digital wallets are becoming more essential as consumers transact more frequently via web-based retailers versus going to a brick and mortar. As COVID-19 is making people less likely to go to the store, REGO Payment Architectures, Inc. (OTCQB:RPMT) announced that it will launch the Alpha Test Phase of its Digital Wallet to a select group of customers.
This test phase will provide REGO with validation regarding the performance of its Digital Wallet and provide feedback for further development. Following this phase, REGO is expected to begin the Beta Phase on November 15 of this year in conjunction with the company’s launch partner Blue Diamond Media. Commercial launch is expected to be in early December.
According to the press release, the Digital Wallet "is an unprecedented family-focused financial solution. It allows children to shop from parent-approved retailers, deliver peer-to-peer payments, teaches financial literacy, all while keeping identities secure and safe."
Traders are in agreement that this is an exciting step towards commercial rollout, as shares are trading up to $.88/share (+10%) early in the session. This is a strong continuation of a three-month uptrend that has pulled the share price all the way from $0.20/share in July of this year.
