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March 30, 2010

RegaloCard adds supermarket chain to its network

The largest supermarket chain in El Salvador, Super Selectos, has announced that they have joined the RegaloCard mobile payments network.

By Verdict Staff

The largest supermarket chain in El Salvador, Super Selectos, has announced that they have joined the RegaloCard mobile payments network.

The network will allow consumers to instantly send free “micro money transfers” from their mobile phones for as little as $10 to buy groceries.

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.

Gregory Keough, chairman and CEO of RegaloCard stated, “Salvadorans sent home roughly $3.8 billion last year, which represents 18 percent of the country’s GDP, of which a substantial portion goes towards the purchase of everyday grocery items. RegaloCard allows consumers to send as little as $10 to their families instantly and for free, while at the same time assuring that the money they send is used to purchase groceries something that is impossible with current money transfer services.”

Latin American retailers continue to join the RegaloCard mobile payments network at an ever increasing pace with the company adding ten new retail members since the beginning of the year.

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