InComm Inc., a stored-value card marketer, announced an agreement last week with American Cash Exchange Inc., a payment-products company, to distribute American's Poni card, a product that enables Mexican immigrants to send funds to Mexico.
The deal calls for InComm to distribute and process the cards in North America. Atlanta-based InComm plans to begin distributing the cards in Texas dusing the fourth quarter, according to Jenner Boutwell, an InComm spokesperson. Although sold in the United States, the cards have a face value of 2,000 pesos (about US$192.66) and cost $10 plus foreign exchange Boutwell says.
The cards also come with a code that lets purchasers make a free call to Mexico so they can give fund recipients a code to withdraw the money from any one of 26,000 ATMs using a Poni card that they have purchased in Mexico.