WU-MA Forms Largest Reload Network - Analyst Blog
19 9월 2012 - 10:58PM
Zacks
In an effort to provide easy recharge facility to its MasterCard
rePower cardholders, MasterCard Inc. (MA) has made
an agreement with the world’s leading money transfer company,
Western Union Co. (WU).
Per the agreement, the cardholders can reload funds on their
cards at any of the 45,000 Western Union agent locations in the
U.S.
The agreement with Western Union will enable MasterCard to
offer its customers with the largest reload network in the U.S with
more than 100,000 locations. The agreement will also make it very
convenient for other cardholders to recharge their card by visiting
the nearest Western Union agent locations and getting funds loaded
within a few minutes.
Last year, Western Union and MasterCard formed an alliance to
offer consumer-friendly prepaid card service across the latter’s
multiple non-US locations. According to the agreement, the
prepaid card enabled cardholders to move money from Western Union
directly to MasterCard’s credit, debit and prepaid cards, and vice
versa. The prepaid card could be refilled at all MasterCard rePower
locations as well as at about 485,000 global agent locations of
Western Union.
Yesterday’s announcement to add Western Union’s US locations
is a second step of the global partnership of the two companies.
Both companies are comfortable with the partnership, with
MasterCard preferring Western Union the most for money transfer
service and Western Union preferring MasterCard for offering its
prepaid programs across the globe.
MasterCard is aggressively penetrating the prepaid market.
There is an unexplored market for prepaid cards for the senior
group of the society, whereby MasterCard estimated about 2.5
billion adults being underserved within the U.S. itself, while
about 25% of this group is devoid of any kind of a conventional
financial payment service.
Hence, while a highly developed nation like the U.S. generates
a healthy opportunity for the simplified prepaid debit cards, we
believe that ample opportunities lay ahead for both these companies
in unbanked regions and other under-developed and developing
nations across the globe, where ATMs are absent.
Western Union currently retains a Zacks #3 Rank, which
translates into a short-term Hold rating. We are also maintaining
our long-term Neutral recommendation on its shares.
MASTERCARD INC (MA): Free Stock Analysis Report
WESTERN UNION (WU): Free Stock Analysis Report
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