PRZOOM - /newswire/ -
Doral, FL, United States, 2010/01/22 - Universo Cellular partners with RegaloCard enabling Salvadorans in the US to purchase mobile phones and talk time for their families back home while avoiding costly money transfer fees.
RegaloCard, an innovative mobile payments company that has developed a free and instant replacement to costly money transfer services, announced today that Universo Cellular the leading national mobile retailer in El Salvador, with locations in all the major shopping centers in the country, has joined the RegaloCard Mobile Payments Network.
In El Salvador, like many Latin American countries, there are more mobile phones then land lines and this trend continues to grow exponentially. Salvadorans in the US send hundreds of millions of dollars each year via money transfers to pay for their families communications needs back home, paying millions of dollars a year in fees. Today, for the first time, Salvadorans in the US can use the RegaloCard service and instantly accomplish the same goal without paying costly money transfer fees. Consumers by using the RegaloCard service, rather than Western Union, Moneygram or other traditional money transfer companies, can now totally avoid these fees which means consumers simply have more money in their pockets at the end of the day. The RegaloCard service also allows consumers to instantly send as little as $10 something impossible with traditional money transfer companies. RegaloCard also provides immigrants with control over how the money they send back home is spent, a powerful benefit as they can now assure that the money they send home to be spent on communications really is spent as they desire, something impossible with traditional money transfer services.
Gregory Keough, Chairman and CEO, added “Immigrants in the US spend an inordinate amount of money on communications to stay in close contact with their friends and families back in their home countries. The majority of immigrants want to assure their families have a mobile phone and talk time so they can chat with them on a regular basis. The problem to date has been there is no way to send just a small amount of money and do so instantly. RegaloCard has solved this problem providing a free and instant solution while avoiding costly money transfer fees a real win 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.
RegaloCard (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.