Bancomer Transfer Services (BTS) has launched
a money transfer service enabling consumers to send money from any
BTS location in the US to countries in Asia and Latin
America.
BTS, a subsidiary of Mexico’s 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 June#
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It is considering extending the programme
worldwide.
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 $58.8 billion USD
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 Moises Jaimes, president and CEO of
BTS.
“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, and, by providing our 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.”
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