RegaloCard expands m-payments network to Guatemala
19 January 2010 | 2180 views | 0
RegaloCard, an innovative mobile payments company that has developed a free and instant replacement to costly money transfer services, continues its rapid expansion announcing that the RegaloCard service is available in Guatemala.
Guatemala with $4 Billion in annual money transfers, representing 12% of the country's GDP, is one of the largest money transfer markets in Latin America. With the RegaloCard service Guatemalan immigrants for the first time can send their friends and families back home the things they need instantly and for free avoiding costly money transfer fees.
Gregory Keough, Chairman and CEO, stated, "With RegaloCards entrance into Guatemala and our current operations in El Salvador, in these markets alone consumers are sending $8 Billion per year in money transfers and paying hundreds of millions of dollars in costly money transfer fees which can now be totally avoided using RegaloCard. While the RegaloCard service is free, it is also available instantly, and for the first time the sender can send as little as $10 and control how that money is spent. These represent major changes to the way the current money transfer companies like Western Union, MoneyGram, Euronet, and others operate and provide a distinct advantage to the consumer and a fundamental change to how the industry as a whole operates."
RegaloCard will be announcing shortly the leading retailers in Guatemala who have joined the RegaloCard mobile payments platform bringing RegaloCards mission of delivering a worldwide free and instant money transfer service one country closer to its goal.