NEW YORK, NY (PRWEB) August 31, 2015
Regalii, a platform that enables digital payments for family’s services or bills from anywhere in the world, has partnered with 15 leading financial institutions in the U.S.
These institutions serve 29 million customers across 50,000 locations and account for 70% of all remittance locations in the U.S. These institutions include remittance agencies such as: Ria Financial, IDT, Black Wireless (SDI), Castle Checking (CFSC), La Nacional, Intercambio Express, Davidsfinancial.com, Dinex, and Sendcashglobal.com among others. Regalii expects to complete all integrations via its API in 2016, which will include both digital and traditional (brick-and-mortar) financial institutions.
Every year 232 Million migrants around the world remit $622BN, of which 17% is spent on services or utility bills, and Regalii’s bold vision is to be the API that facilitates all of these payments.
Today, the company also announced is doing over $1 million in net revenues annually, with revenues up 800 percent compared to the previous year. The company is currently live in 1,000 locations, and projects to be in 50,000 locations in 2016.
“Regalii provides a really innovative payment option for all of our consumers to manage their family’s finances remotely. I can pay my grandma’s electricity and water from 3000 miles away. That’s very powerful. Only because of Regalii can we do that” - Daisy Paulino, agent partner
Regalii partners with the same agencies that remittance senders already know and trust. The Regalii platform tracks all the finances of a family member remotely and summarizes these financial matters into a SMS. Each week Regalii sender and recipient receive the SMS summarizing their family's financial situation, ie, which bills are due, how much, and when due.
“We’re building a next-generation payments platform. The internet has no borders, so paying for services shouldn’t either” - Edrizio De La Cruz, Regalii CEO.
Regalii is a co-branded mobile and web API platform that enables bill and services payments – electricity, water, gas, cell, tuition, health insurance and other – from anywhere the world. Regalii investors Y-Combinator, Mitch Kapor, Winklevoss Capital, Alexis Ohanian, Maverick Capital, among others.