Cemaco A Leading National Department Store Chain in Guatemala Partners with RegaloCard Enabling Guatemalans To Avoid Costly Money Transfer Fees
Online PR News – 26-January-2010 – – January 26, 2010 Miami, Florida – RegaloCard, www.RegaloCard.com, an innovative mobile payments company that has developed a free and instant replacement to costly money transfer services, continues to grow in Guatemala announcing today that Cemaco a leading national department store chain has joined the RegaloCard Mobile Payments Network.
Cemaco operates a chain of department stores in Guatemala, one of the largest money transfer markets in Latin America with $4.1 Billion sent in 2008 alone, is an ideal addition to the RegaloCard mobile payments network as here immigrants can avoid costly money transfer fees and assure that their families can purchase a wide variety of the products they need. Cemaco’s nationwide retail stores offer a robust selection of the many items consumers need for their households on a daily basis.
“Cemaco with its national footprint across Guatemala and its broad product selection is a great addition to the RegaloCard mobile payments network. Now Guatemalans in the US can avoid costly money transfer fees and instantly send their relatives back home the things they need absolutely free, a profound change from the traditional money transfer model.” stated Gregory Keough, Chairman and CEO of RegaloCard. Mr. Keough added, “The ability for consumers in the US to send instantly and for free as little as $10 for their family to make purchases in their home countries is highly attractive especially in today’s current economic environment. If the consumer wanted to send the same $10 with Western Union, Moneygram or other money transfer services the fees for sending the money would be greater than the amount sent, so the RegaloCard service makes a lot of sense and provides great value for consumers.”
RegaloCard for the first time is empowering the US Hispanic community and allowing them to avoid the hundreds of millions of dollars spent yearly on money transfer fees while controlling how the money they send back home is spent. RegaloCards are available in denominations as small as $10 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. RegaloCard currently operates its free and instant replacement to money transfer services in El Salvador and Guatemala, two of the largest money transfer markets in Latin America, with $8B billion a year in money transfers.
About RegaloCard: RegaloCard, www.RegaloCard.com, is an innovative mobile payments company that has developed a free and instant alternative to costly money transfer services. RegaloCard uses a proprietary mobile payment technology to allow immigrant groups to instantly send their relatives back home what they need absolutely free. RegaloCard is a prepaid gift card that immigrants can buy in the United States, but is delivered instantly to the person chosen in the immigrant’s home country, to make purchases at leading local retailers. The RegaloCard service works with any mobile phone and carrier worldwide and is the best way for immigrants to send their families the things they need. While initially focusing on the US Hispanic market, RegaloCard plans to expand the service to other regions that have a high level of immigrants residing in the US. For more information visit www.RegaloCard.com
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