BLUE BELL, PA — Rego Payment Architectures, Inc. (OTCQB: RPMT) and Computer Services, Inc. (CSI) announced a strategic partnership to offer REGO’s white-label family wallet through CSI’s network of community financial institutions. This collaboration aims to provide young users with tools for earning, saving, and spending money under parental supervision.
“CSI’s partnership with REGO strengthens our banking customers’ roles as financial leaders and advisors in their communities,” said David Culbertson, President and CEO of CSI. The REGO digital family wallet is designed to educate youth about money management and financial literacy, reflecting an increasing demand for such tools.
A report by Cornerstone Advisors highlights that children aged five to 17 have over $360 billion in spending power. This partnership offers financial institutions a way to engage with these young consumers early, providing a secure digital wallet application that fosters financial responsibility.
Peter S. Pelullo, CEO of REGO, emphasized the strategic benefits of the collaboration. “The partnership allows financial institutions to engage future young customers today,” he said. With CSI’s innovative approach and extensive network, REGO can complement and expand CSI’s Banking-as-a-Platform offering.
REGO and CSI’s Partnership Pioneers Money Education
The partnership is significant in an era where financial literacy has become crucial. As more children become financially active at an early age, educating them on managing money effectively is essential. The REGO family wallet not only facilitates transactions but also serves as a learning platform, helping young users understand the value of money, budgeting, and saving.
For community financial institutions, this partnership offers a competitive edge. By incorporating the REGO family wallet into their services, they can attract and retain young customers, building long-term relationships. This initiative aligns with broader efforts to enhance financial literacy across various demographics, ensuring that future generations are better equipped to handle their finances.
In summary, the partnership between REGO and CSI underscores a commitment to financial education. It leverages technology to create meaningful interactions between financial institutions and young consumers, ultimately fostering a more financially literate society.
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