The Largest Department Store Chain In Central American Joins RegaloCard’s Mobile Payments Network

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Almacenes Siman Partners with RegaloCard Allowing Central Americans To Instantly Send Free Micro Money Transfers For As Little As $10 To Buy Clothes, Consumer Electronics, Furniture And More

April 15, 2010 Miami, Florida – RegaloCard, www.RegaloCard.com, a global mobile payments company that has developed a free and instant replacement to costly money transfer services announced today that Almacenes Siman, the largest department store chain in Central America, has joined the RegaloCard mobile payments network. RegaloCard, through its proprietary mobile payments platform and unique business model, has created a new product category the “micro money transfer,” allowing consumers to send instantly and for free 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.

The Almacenes Siman Department Store chain spans all of Central America with operations in El Salvador, Guatemala, Nicaragua, and Costa Rica and is an ideal addition to the RegaloCard mobile payments network as it allows Central Americans in the US to send their family as little as $10, instantly and for free, to purchase a wide array of products such as clothes, computers, furniture, beauty supplies, toys, home furnishings, children’s items, jewelry, shoes, mobile phones, sporting goods, and consumer electronics offered by Siman at any of its numerous locations region wide.

Gregory Keough, Chairman and CEO of RegaloCard, stated “At Siman consumers can literally purchase almost anything they may need, from TVs to clothes and they have the largest retail footprint and product selection of any department store in the region. This means consumers can send their micro money transfer instantly and for free with RegaloCard and allow their family back home to purchase almost anything they may need, this is great news for consumers.”

The addition of Almacenes Siman expands the ever growing list of leading retailers in Latin America joining the RegaloCard mobile payment network. RegaloCard continues to expand its footprint of merchant partner locations in Latin America and the variety of products where consumers can spend the money transfers they receive through RegaloCard.

About RegaloCard: RegaloCard, www.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 than 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. For more information visit www.RegaloCard.com.

Press Contacts:

RegaloCard
Sofia Alvarenga
Director Partner and Media Relations
Email: salvarenga@RegaloCard.com
Tel: (718) 223-2961