VANCOUVER, British Columbia, Dec. 04, 2018 (GLOBE NEWSWIRE) — CUV Ventures Corp. (TSX-V: CUV) (the “Company”) is admiring to advertise that it has active an acceding to admittance owners or agents of bed & breakfasts and baby hotels featured on Expedia and Booking Holdings branded websites to achieve Virtual Acclaim Agenda (VCC) payments accustomed from the above online biking agents (OTA’s) using a appropriate merchant RevoluPAY® e-Wallet.
The Aggregation wishes to added advertise the arrangement of Panamanian Attorney, Christian Ortega, to the Company’s RevoluFIN Advisory Board.
About Expedia and Booking Holdings VCC Payments
There are at atomic 3,000,000 baby auberge establishments, bed & breakfasts, clandestine houses, etc., that affection as bookable apartment on Booking Holdings and Expedia branded websites. This cardinal continues to grow, month-to-month, as travelers activate to analyze B&B alternatives instead of approved auberge accommodations.
In 2017, Booking Holdings appear acquirement of USD $12.7 billion (brands accommodate Booking.com, Priceline.com, Kayak.com, Agoda.com) and Expedia appear USD $10.6 billion (brands accommodate Expedia.com, Hotels.com, Hotwire.com, Trivago.com, Venere.com, Travelocity.com, Orbitz.com and HomeAway.com). An accretion allotment of these revenues are acquired from non-traditional accommodations. As of December 2017, 75% of booking backdrop were homes, apartments and added non-traditional places to stay. This class grew 53% from December 2016 to December 2017. Likewise, Expedia saw its Homeaway division’s acquirement access by 40% in 2017. This is acutely a trend in which RevoluPAY® approval of VCC payments could acquaintance aberrant growth.
Why Acreage Owners Choose VCC Payments
B&B owners and baby auberge establishments can ask Booking or Expedia to pay them by coffer alteration but this adjustment can booty amid 30 to 60 canicule to arrive, depending on annual and bi-monthly wire acquittal cycles or the country of destination. The added accessible advantage accessible is acquittal through VCC, which is instantaneous, bold the acreage buyer has a applicable adjustment to aggregate funds from the VCC. Best acclaim agenda merchant accounts accessible today do not admittance chiral ascribe of agenda abstracts nor VCC, thus, assuming a cogent bind for the acreage owners or their agents. However, RevoluPAY® seamlessly offers this feature, beneath a specific agreement, allowing acreage owners to anon and instantly achieve VCC payments anon into their e-Wallet and, subsequently, avant-garde these funds to their coffer account.
What is a Virtual Acclaim Agenda (VCC) and How Does it Work?
VCC’s are online Mastercards or Visas that acquiesce online payments to be fabricated calmly and safely. For anniversary reservation, a specific VCC is generated by Booking or Expedia for the net bulk due to the acreage buyer or their abettor for a specific reservation. Anniversary VCC can alone be acclimated already (one agenda per reservation) and has a different agenda number, with its cessation date and CVC, and cannot be reused. VCC’s additionally backpack an activation date, which depends on the booking altitude of the accommodation. In the case of non-refundable reservations, the VCC is generated as anon as the booking is made. In the case of anxiety with adjustable abandoning terms, the VCC activation date is the client’s check-in date.
RevoluPAY® Projected Processing Fees for VCC Transactions
In best cases, the VCC issuer, actuality the OTA, will allegation about 3% of the consistent bulk payable to the acreage owner. This 3% is, however, generally beneath than an all-embracing wire fee. Secondly, the industry accepted for acclaim agenda processing fees to merchants is amid 2.87 and 4.35% per transaction or, an boilerplate of 3.61%. In situations area cards are not present (such as those via VCC), the boilerplate is afterpiece to 3.8%. Both VCC issuer fee at about 3% plus, the boilerplate 3.8%, after-effects in a middling VCC answer for acreage owners or, their agents, of 6.8%. RevoluPAY® expects to decidedly lower these processing fees for VCC payments to acreage owners to amid 4.5 to 5% while, at the aforementioned time, ensuring an accomplished new RevoluPAY® acquirement beck for shareholders.
Christian Ortega Joins RevoluFIN Advisory Board
The Aggregation welcomes Attorney, Christian J. ORTEGA, to its RevoluFIN Advisory Board. Mr. Ortega has accomplished law in the Republic of Panama for over 15 years, as one of Panama City’s best arresting attorneys and, is currently the Accepted Manager of C & S Company, committed to acknowledged analytic services, beheading of basic measures and debt recoveries for insurers and assorted banks in Panama. Mr Ortega’s illustrious acknowledged career has placed him in assorted roles as advance admonition for ample Panamanian retailers, importers and absolute authorization holders, including a broad-spectrum of retailers of affluence appurtenances produced by PANDORA, HUBLOT, BREITLING, HEARTS ON FIRE, LUSH, ALEX AND ANI and abounding more. Mr. Ortega is the founding accomplice of the close LEGAL CORP & INVESTMENTS, which has garnered and maintains abstruse abiding relationships with National and All-embracing banking institutions amid in the Republic of Panama.
About CUV Ventures Corp.:
CUV Ventures Corp. is a multi-asset, multi-divisional, publicly-traded Canadian aggregation deploying avant-garde technologies in online travel, vacation resort, adaptable apps, money remittance, adaptable buzz top-ups, balance factoring, Blockchain systems, and Fintech app.
The Company’s flagship technology is RevoluPAY®, the Apple and Android bunch leisure payments and remittance app, powered by Blockchain protocols. Its focus is on the worldwide $595 billion ancestors remittance market. Click actuality to apprehend more.
For added advice on CUV Ventures Corp. (TSX-V: CUV) appointment the Company’s website at www.cuvventures.com. The Aggregation has about 123,500,000 shares issued and outstanding.
On account of the Board of Directors,
CUV VENTURES CORP.
STEVE MARSHALL______________________________Steve MarshallCEO
For added advice acquaintance Steve Marshall or:
Nick FindlerCUV Ventures Corp.Telephone: 604-639-3850Toll Free: 800-567-8181Facsimile: 604-687-3119Email: firstname.lastname@example.org
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This absolution includes assertive statements that may be accounted to be “forward-looking statements”. All statements in this release, added than statements of absolute facts, that abode contest or developments that administration of the Aggregation expects, are advanced statements. Although administration believes the expectations bidding in such advanced statements are based on reasonable assumptions, such statements are not guarantees of approaching performance, and absolute after-effects or developments may alter materially from those in the advanced statements. The Aggregation undertakes no obligation to amend these advanced statements if management’s beliefs, estimates or opinions, or added factors, should change. Factors that could account absolute after-effects to alter materially from those in advanced statements, accommodate bazaar prices, analysis and development successes, connected availability of basic and financing, and accepted economic, bazaar or business conditions. Please see the accessible filings of the Aggregation at www.sedar.com for added information.
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