Bancomer Transfer Services (BTS)
has launched a money transfer service enabling consumers to send
money from any BTS location in the US to Latin America and Asian
countries.
BTS, a subsidiary of Mexico’s
largest bank BBVA Bancomer, will initially launch the service in
association with Visa in countries including El Salvador, Brazil,
China and The Philippines by the end of this month. It is
considering extending the programme worldwide.
Go deeper with GlobalData
According to the Inter-American
Development Bank (IDB), the Latin American corridor is one of the
largest money transfer markets in the world, with a total of
$58.8bn transferred in 2009.
“As a member of the BBVA Group, we
are always working to help people simplify their lives via sound,
innovative products and services,” said BTS president and CEO
Moises Jaimes.
“This goes far beyond being a
complement to our traditional money transfer services. Our work
with Visa strengthens our commitment to the evolution of the
remittances industry.
“By providing consumers with a
wider array of safe and secure services and channels, it gets us
one step further in our quest towards serving this important
segment in the financial services industry.”
