Filed Under: [ Business ] [ Press Releases ] [ Blogante Business ]
Tags: latin america, money transfer, remittance, remittances
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TransferOrbit Corporation (OTC: TRBI) (www.transferorbit.biz) has signed a major long-term contract with TU-DNRO Inc. to become its exclusive processor of money transfers at all of the events promoted by their distributors. This agreement solidifies TransferOrbit’s positioning in the lucrative money transfer industry as the premier processing platform for international remittances. “We have been working very hard over the last several years in preparation for a venture of this scope and potential,” stated Jorge Toro, President & CEO. He went on to say, “Together with TU-DNRO Inc. we will change the landscape in the US remittance industry.”
The definitive agreement provides for initial targets of 100,000 transactions per month to be brought to TransferOrbit by TU-DNRO and its team members. In addition, the agreement provides for these targeted numbers to increase to 1 million transactions per month within 18 months. Peter Rochow, CFO of TransferOrbit stated, “The annualized gross revenue from Transaction fees and Foreign Exchange on the initial target of 100,000 monthly transactions is approximately $224 million, and when the 1 million transactions per month targets are reached, the annualized gross revenue will be approximately $2.1 billion.”
The TU-DNRO Network provides their distributors (Dance-Concert Promoters, Flea Market Vendors, Catering Truck Vendors, Mom & Pop Mexican Stores and others), with a comprehensive package of products, services, and tools to manage and grow a portfolio of prepaid distribution. Their Mexican-Latino business provides the backbone network to offer a wide range of prepaid products including wireless e-pins, long distance, stored value, prepaid debit/credit, bill payment, money transfers and other products, all running in virtually every POS terminal in the field. They work in conjunction with Ad-Promo-Mex-Tel, which has been promoting Mexican Dances, Concerts and other venues pertaining to Mexican history in California, Illinois, Texas and others, for more than 75 years combined. Their Market is the Mexican National living in the U.S.A. who sends $22 billion every year, and spends over $600 billion in the United States. They have over 800 strategic pre-paid ticket centers in California, Nevada, Texas and Arizona that sell the Dance-Concert tickets, and can convert them into P.O.S. and/or Kiosk Centers. In addition, TU-DNRO Inc. also has agreements with Lunch Truck Owners/Operators that can distribute and sell their products all over the Country.
For more information regarding TU-DNRO Inc. and Ad-Promo-Mex-Tel Inc., please visit: www.tu-dnro.net & www.adpromomextel.com.
TransferOrbit, a Florida Corporation, is an electronic intermediary for money transfer providers. Banks and non-banks use the Company’s scalable, turnkey system of proprietary software and secure network processing to facilitate the person-to-person transfer of money on a “private label basis” throughout Latin America. Providers piggyback on the Company’s established network in the United States and 17,000 transfer agents in countries throughout Latin America.”*
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