RegaloCard, a global mobile payments company that has developed a free and instant replacement to costly money transfer services, announced today that they have entered into a distribution partnership with SelectCore Ltd. (TSX-V: SCG) for the distribution of RegaloCard in Canada. RegaloCard, through its proprietary mobile payments platform and unique business model, has created a new product category: the “micro money transfer.” RegaloCard allows consumers to send free and instant transfers of as little as $10, directed to specific uses. The RegaloCard service works with any mobile phone and carrier worldwide and is as easy to use as a prepaid calling card.
SelectCore is the leading independent prepaid distributor in Canada serving over 5,000 retailers ranging from independent convenience store outlets to leading supermarket chains across Canada. SelectCore also serves thousands of locations across the United States and projects to grow their US footprint to over 10,000 locations by year-end. Ryan Deslippe, President of SelectCore said, “RegaloCard fits well into our distribution model because our retailers are looking for a simple, over-the-counter solution to offer their customers a faster and easier way to send money back home.”
RegaloCard is as easy to sell as a prepaid phone cards which opens up the market to thousands of retailers that do not offer a money transfer service today. This agreement is the first to expand RegaloCard’s distribution footprint outside the US and continues the company’s focus in making the RegaloCard micro money transfer service as easy to purchase and as ubiquitous as calling cards.
Gregory Keough, Chairman and CEO of RegaloCard, stated, “There is certainly a demand for our product among Canadian consumers and we are happy to be partnering with SelectCore who is a recognized leader in the prepaid industry. SelectCore’s rapid growth in the US will also add several thousand points of sale to the RegaloCard distribution network by the end of 2010 which makes this partnership even more exciting.”
SelectCore, (selectcore.com), is a leading provider of point-of-sale transaction processing and electronic distribution solutions for the prepaid telecom and financial services market. Their proprietary PrepaidONE technology platform and extensive retail network delivers a full suite of prepaid products to millions of credit-challenged and unbanked consumers nation-wide. They also provide wholesale solutions to some of the industry’s largest distributors, retailers and telecom providers. SelectCore is a public company on the TSX Venture Exchange trading under the symbol “SCG”. They were ranked one of Canada’s top 100 fastest-growing companies in 2006, 2007 and 2009 by Profit100.
RegaloCard, (RegaloCard.com), is a global mobile payments company that has developed a free and instant replacement to costly money transfer services. RegaloCard, through its proprietary mobile payments platform and unique business model, has created the “micro money transfer” allowing consumers to send instantly and for free as little as $10, directed to specific uses, while earning a greater margin then traditional money transfer companies. 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 as simple to use as a prepaid calling card.