Guatemala Restaurant Chains Joins RegaloCard Network

Published September 24, 2010, 1:28 p.m. EDT

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Updated September 24, 2010, 12:28 p.m. EDT

1 Min Read

Guatemalan restaurant chain Taco Inn has joined RegaloCard LLC’s mobile funds-transfer network, the mobile-payments firm announced Sept. 23.

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Miami-based RegaloCard’s service is designed to enable consumers to receive funds from the U.S. and Canada to use to pay for products and services at participating store locations in Central America. Under RegaloCard’s system, individuals wanting to send funds to someone in Central America must purchase a merchant’s prepaid card and scratch off an area on the back of it to reveal a PIN. The buyer then calls a toll-free number printed on the card and enters the PIN and the recipient’s mobile number. The recipient receives an instant text message that contains a redemption PIN.

RegaloCard expects to announce additional partners in Guatemala in the next few weeks.

On Sept. 20, RegaloCard also announced a distribution agreement with iPayStation LLC (see story).

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