RegaloCard, an innovative mobile payments company that has developed a free and instant replacement to costly money transfer services, continues its rapid expansion announcing today that Chili's, a leading national franchise restaurant chain in El Salvador, has joined the RegaloCard Mobile Payments Network.
The RegaloCard service is unique in that it allows immigrants for the first time to instantly send their relatives back home the things they need absolutely free avoiding costly money transfer fees. Gregory Keough, Chairman and CEO of RegaloCard stated, "El Salvador is one of the largest money transfer markets in Latin America with $3.8 Billion sent home in 2008 alone, RegaloCard represents a fundamental change allowing immigrants to still send the things they need to their friends and family back home, but to do so completely free and instantly using our mobile payment platform. The fact that immigrants can use the RegaloCard service to send as little as $10 and control how the money sent back home is spent is a very attractive value proposition to consumers and something impossible with current money transfer services."
RegaloCard is a prepaid gift card that immigrants can buy in the United States. The RegaloCard redemption PIN is then delivered instantly via mobile payment technology to the person they choose in Latin America, to make purchases at leading local retailers. RegaloCard is fast and easy to use. Consumers merely choose the gift card they wish to send to their families from the leading brands in their home country, and provide the name and cellular number of the recipient. The RegaloCard service works with all mobile handsets and all carriers worldwide and is delivered instantly 24 hours a day 365 days a year, so recipients no longer have to go the bank or only receive gifts from their family members during banking hours. RegaloCards are available from the best known retail brands in country allowing consumers to choose from brands they know, love, and have grown up with in their home country.