Founded in 2006 as a joint ventura between The DVA Group and Thomas Greg & Sons, Revalven (Recaudo de Valores de Venezuela) provides cash collection services for a wide variety of government and business customers. In countries where a scarce number of businesses offer online payment, and where an even smaller portion of the population has access to the means to execute such transactions, cash collection services perform a vital role in reducing the cost of paying bills. In addition to these basic premises, Venezuela was deemed a particularly ripe market for these types of services, given the bureaucratization of governmental processes, and the ensuing congestion in private banks (hitherto, the only authorized place to carry out payments related to government run activities such as utilities and taxes).

From the consumer’s point of view, cash collection services offer the possibility to consolidate payment activities; allowing one to send remittances, pay for services and pay for taxes in one convenient location. For the firm, cash collection services are a way to outsource the collection of payments, and focus on their core business.

Revalven works alongside businesses to offer bespoke solutions for their bill collection requirements; either by manning Revalven “booths” within the client’s business, or by offering consumers the option to pay the firm’s bills at Revalven’s own branches.

Revalven currently operates in 49 locations, and is seeking to emulate the success Reval has achieved in Colombia (over 400 locations).

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