Banking debit card Debit Card credit cards credit card Local Law Asamblea Legislativa (El Salvador) Defensoría del Consumidor (El Salvador) Superintendencia del Sistema Financiero (El Salvador) VISA Armando Arias Asamblea Legislativa (Costa Rica) Asociación Bancaria de Panamá BAC International Bank Banco General (Panama)

Mobile Banking with VISA for Remittances in Guatemala

From the second quarter the company will introduce a project to provide financial services through cell phones.

Friday, June 17, 2011

Brayan Peralta, CEO of remittance products for Visa Latin America and the Caribbean, said that through this service the benefits of the financial system will be extended for reciept of remittances.

"Through the project ‘Visa Giro’ (wire transfers) the firm wants to take advantage of the growth in money being sent to families, by offering innovative services to send and receive money", said the manager to Prensalibre.com.

Source: prensalibre.com

Key entities

Brayan Peralta VISA

Countries

Guatemala

Insight

Remittance Remittances debit card credit cards Debit Card Banking

Visa Promotes Debit Card Usage

November 2009

Visa has launched an advertising campaign fostering the usage of debit cards in Latin America and the Caribbean.

Usage of Visa debit cards has grown 33% in the last five years. To take advantage of this movement, Visa has launched a new advertising campaign focused specifically on debit cards, called "yo paGO" ("I PAY").

Honduras: New BAC/BAMER service

August 2008

BAC/BAMER Bank will launch a new service today that will allow Hondurans working abroad, especially those in the United States, to send remittances to family members at home.

Some of the main benefits of this service are that remittances send via BAC/BAMER will be received the same day they are sent, there is no fee to receive the money, they are paid in cash, the bank can pay the receiver's credit card or loan, or they can be deposited in a bank account (no matter at which it is located).

Remittances for $13.06 billion to Central America in 2011

March 2012

By country: Guatemala $4.37 billion; El Salvador $3.65 billion; Honduras $2.86 billion; Nicaragua $1.05 billion; Panama $592 millions; Costa Rica $530 millions.

Inter-American Development Bank Report:

Remittances to Latin America and the Caribbean rose to $61 billion in 2011

Costa Rica: Consumers Owe $ 1.173 Million in Credit Cards

March 2011

The Economy Ministry presented the quarterly survey on credit and debit cards, through October 2010.

Regarding credit cards during for this period, there were 29 issuers with 403 types of plastic.

If debt was distributed equally among the economically active population, it would represent a per capita debt of $ 837, which is almost double the minimum wage.

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