Western Union Launches New Platform Enabling Stored-Value Solutions Worldwide
21 3월 2013 - 3:00AM
Business Wire
As part of its continuing commitment to create innovative
solutions that address unmet needs in the marketplace, Western
Union today announced two significant milestones in its
Stored-Value division.
The first is the launch of the Western Union® Global Share
platform, which enables the company to introduce new stored-value
solutions in markets around the world by joining forces with local
companies.
The platform allows local companies to enhance their overall
value proposition by leveraging many of Western Union’s strengths
in the marketplace, including the largest network of its kind in
the world, its globally recognized brand and its expertise in
moving money across borders.
The Global Share platform model enables both Western Union and
its clients to develop enhanced value propositions in the
marketplace by leveraging each other’s complementary assets.
At the Innovation Project at Harvard University today, Western
Union also announced that it has already signed agreements with six
companies for solutions that meet a variety of needs around the
globe.
“The launch of the Western Union Global Share platform and the
addition of six companies are proof that Western Union is a
relevant, wide-reaching and powerful brand – one with the trust of
millions of customers,” said Diane Scott, Executive Vice President,
Chief Product and Marketing Officer, Western Union. “We are truly a
partner of choice for companies around the world.”
The six companies are:
Access Prepaid Worldwide (global): Western Union and
Access Prepaid, a fully-owned subsidiary of MasterCard, are working
together to introduce Western Union-branded multicurrency travel
cards in multiple countries around the world. With these accounts,
travelers can load funds at select Western Union Agent locations
worldwide and manage their money in multiple currencies, delivering
both convenience and savings. This agreement is part of Western
Union’s global partnership with MasterCard to make electronic
payments and financial services more efficient and accessible for
consumers.
Advent Financial (U.S.): The companies are now offering
government tax disbursements on prepaid cards at more than 5,000
locations in 45 states. The solution offers quicker and more
convenient access to refunds than a paper check, and delivers
additional features such as cash reload services at Western Union
Agent locations and access to Western Union Money Transfer®
transactions, resulting in stronger, longer-lasting customer
relationships.
AirPak (Central America): Western Union and its master
Agent in Central America have introduced co-branded reloadable
remittance card accounts that allow receivers of Western Union
Money Transfer transactions in Costa Rica, Guatemala and El
Salvador to direct part or all of those funds onto a reloadable
prepaid card.
Credencial (Chile): Western Union and Credencial, a
leading Latin American stored-value processing company based in
Buenos Aires, are building a stored-value wallet tied to a prepaid
card that will allow users to send and receive money domestically
within Chile.
Jade Payments (UAE): The two companies are planning to
launch the “WU WALLET,” a multi-purpose, multi-currency card
account for daily use in the UAE and as a multi-currency card when
traveling abroad. Accountholders will be able to use the card in
multiple currencies, withdraw cash at ATMs, send money from the
card with Western Union and add funds to the card at select Western
Union Agent locations in the UAE.
mFunds (U.S.): The two companies are working together on
solutions addressing multiple verticals where customers have unmet
needs. The first is an open-loop prepaid card for Chinese travelers
coming to the U.S. that brings convenience and shopping
discounts.
In addition, the company today announced the launch of its
Reload+ network, which allows customers with multiple types of
accounts, including prepaid cards, mobile services and other
e-commerce-based accounts, to “top up” or add cash to their
accounts at participating Western Union Agent locations worldwide.
Additionally, Reload+ services offer cash access at participating
Western Union Agent locations where ATMs are not prevalent.
“Today’s announcements are extraordinarily significant for
Western Union,” said Mike Hafer, Senior Vice President, Global
Stored Value, Western Union. “They are clear evidence of our
company’s transformation to offer customers solutions that meet
varying and diverse needs in the marketplace. They are also proof
that many of our key assets, including our global Agent network of
more than half a million locations, are highly desirable and
complementary in local markets around the world.”
For more information about Western Union’s Global Stored Value
solutions and the new Western Union Global Share platform, visit
http://business.westernunion.com/storedvalue.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global
payment services. Together with its Vigo, Orlandi Valuta, Pago
Facil and Western Union Business Solutions branded payment
services, Western Union provides consumers and businesses with
fast, reliable and convenient ways to send and receive money around
the world, to send payments and to purchase money orders. As of
December 31, 2012, the Western Union, Vigo and Orlandi Valuta
branded services were offered through a combined network of
approximately 510,000 agent locations in 200 countries and
territories. In 2012, The Western Union Company completed 231
million consumer-to-consumer transactions worldwide, moving $79
billion of principal between consumers, and 432 million business
payments. For more information, visit www.westernunion.com.
WU-G
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