TFTG Unveils No Fee Point of Sale Service

Thursday 13 January 2005 04:18 CET | News

Trimfast Group (TFTG) announced eCHEX, has finalized negotiations with various MasterCard-certified processors and financial institutions.

eCHEX MasterCard Stored Value Card Platform will not be charged a fee for Point of Sale Transactions and will have access to free Interactive Voice Recognition (IVR) customer service. This service will commence once U.S. immigrants begin sending money back home through eCHEX to such locations as Mexico, Latin America and the Caribbean. According to Inter-American Development Bank, Latin American immigrants in the U.S. sent back home an estimated $38 Billion in 2003. Growth for 2004 was expected to be over 20 percent when compared to the same period in 2003. The Banco de Mexico estimated that remittances to Mexico will reach $16 billion (U.S.), up over 20 percent from 2003. Trimfast seeks to take advantage of this high demand market and anticipates strong revenue growth through out 2005.

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Categories: Payments & Commerce | Payments General
Countries: World
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