RC365 Holding PLC (LSE:RCGH, FRA:L2G) announced it has expanded the payment infrastructure supporting its RC3.0 application through a 24-month agreement with Canadian payment services provider PyWave Network Technology Limited.
Under the deal, RC365 subsidiary RCPAY will introduce merchants to PyWave for payment collection and payout services, subject to onboarding, compliance and transaction checks. The arrangement covers local and international payments, remittances, foreign exchange, fund aggregation and the opening of receiving accounts.
It also introduces an “umbrella” virtual account structure, allowing RCPAY clients to open and manage sub-accounts for their customers or affiliated companies. Services will be integrated through PyWave’s administration system and application programming interface.
RC365 plans a phased rollout focused on high-growth regions, particularly African countries. Chief executive Chi Kit Law called the agreement “an important and highly strategic addition” to the group’s payment capabilities.
The agreement will automatically renew for successive 12-month periods after its initial term unless either party terminates it or gives notice of non-renewal. RC365 said it expects the expanded service range to contribute positively to commercial development and revenue streams.
