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Our Market

There is a vacuum in the financial services industry when it comes to the Hispanic market. Management believes that there is currently no true brand leader for one-stop shopping in the Hispanic financial services field.

Estimates put the un-banked population in the United States alone at about 28 million people. An additional 44 million are considered under-banked (have some type of banking relationship but do not use it regularly). Within this market is the Hispanic under-banked population, considered to be 36% of the total. It is believed that 50% or more of foreign-born Hispanics in the U.S. are currently un-banked . Hispanics are the largest and fastest growing minority group in the United States.

According to Wells Fargo, the Hispanic market represented $652.6 billion in purchasing power in 2003, up 29.5 percent from $503.9 billion in 2000. By 2010, the disposable income of Hispanics will exceed $1.08 trillion, or 9.2 percent of total purchasing power nationwide, according to the Selig Center for Economic Growth at the University of Georgia.

By 2015, 324 million un-banked Latin Americans could have general-purpose prepaid cards, according to a study by NovoPayment. The study says that by 2015, annual prepaid-card spending by un-banked Latin Americans could reach U.S. $214 billion a year. Prepaid cards will bring access to point-of-sale, ATM, mobile and online transactions to consumers who rely almost exclusively on cash, NovoPayment says.

Hispanics spend $10 more per month on their phone bills and 25-50% more on mobile entertainment than other US groups do. According to Manuel Barroso, VP Business Development Marketing Mobile of VeriSign, not only are US Hispanic customers more likely to own a cell phone, they are also more likely to use data services for longer periods of time, purchase more services, and are generally more loyal to brands.

Remittances from the United States to Mexico topped $23 billion in 2006, up from $20 billion in 2005 . At an average cost of 5%, over $1 billion was spent on remittance fees for Mexico alone.

Hispanics with Internet access at home are rapidly adopting broadband and now heavily rely on the Internet to learn more about products. Half agree (51%) that they "get more information about products and services from going online than they do from television or newspapers or magazines."

Through its association with AMME, Arriba enjoys access and endorsements within the Hispanic community on a grass roots level that is difficult for other organizations to achieve. The 750+ community leaders associated with AMME hold positions of authority and trust in their communities as leaders of hometown associations. Arriba will endeavor to engage these local community leaders as distributors, sales managers or independent sales representatives to market and sell Arriba's services.

Arriba will forge relationships with other community and civic groups including religious institutions, non-profits, and governmental entities to promote the Arriba message at seminars, special events and other venues. For example, through its alliance with AMME, Arriba may participate in Small Business Association seminars for Hispanic business owners to introduce the Arriba direct deposit payroll cards or other planned employee benefit offerings like Health Savings Accounts and discount programs.

This is a large, growing market in need of education, services and attention.