RegaloCard April 15 announced a five-year partnership with Almacenes Siman, a Central American department-store chain that operates stores in El Salvador, Guatemala and Honduras.
U.S. consumers may purchase a RegaloCard specifically branded for use in the department chain from neighborhood stores for as little as $10 or as much $100, and recipients may use it only for purchases at Almacenes Siman stores. Almacenes Siman is based in El Salvador. (
The buyer sends the card’s PIN via SMS text message to the cell phone of a relative or friend living in El Salvador. The relative converts RegaloCard’s PIN to an Almacenes Siman PIN to initiate purchases, Sofia Alvarenga, RegaloCard spokesperson, tells PaymentsSource. RegaloCard is a “virtual” card, and its use does not affect an actual card the recipient may have, Alvarenga says.
The Almacenes Siman agreement expands RegaloCard’s Central American footprint. The company has similar agreements with Burger King, Papa John’s Pizza and other merchants.
RegaloCard is marketed to immigrants from El Salvador, Honduras and El Salvador living in the United States, Alvarenga says.
