Visa, Bancomer Transfer Services roll out Visa Money Transfer for remittances from the US

According to the agreement the customers will be able to initiate a Visa money transfer transaction at any BTS location in the United States. In the initial deployment phase users will be enables to deliver funds from the United States to select countries such as El Salvador, Brazil, China and The Philippines. However, the two companies have planned to extend the program to allow remittances from BTS locations to any country within the Visa network.

The new money transfer program offered by BTS is an enhancement to its service offering designed to enable consumers within the US to send remittances worldwide. The initiative has been implemented as a consequence of the increased figure of funds transferred (USD 10 billion) in 2009 to Latin America.