Western Union continuing strategy of introducing stored-value solutions with major U.S. retailers
ENGLEWOOD, Colo.--(BUSINESS WIRE)-- The Western Union Company (NYSE: WU), a leader in global payment services, and discount retailer Fred’s (NASDAQ: FRED) today announced that they have joined forces to offer three Western Union general-purpose reloadable (GPR) prepaid cards.
The award-winning Western Union® MoneyWise and Gold Card MasterCards and the Western Union® Telemundo MasterCard are now available at 645 Fred’s stores in 15 states.
All three of the cards can be used anywhere debit MasterCard is accepted, including at ATMs and for online shopping. Cards can be “topped up” or reloaded with cash at one of 45,000 Western Union Agent locations in the United States or at any Fred’s location that offers the cards.
Cardholders also can load funds onto their cards through direct deposit, through their bank accounts online or by directing a Western Union Money Transfer® transaction directly onto the card.
“Before Western Union introduced any stored-value products, we asked our customers what they wanted,” said Mike Hafer, Senior Vice President, Global Prepaid, Western Union. “The result was these cards – they are fee-friendly, and our customers can use them for the majority of their financial needs. We are not just selling cards. We are creating stronger bonds with our customers and introducing – and refining – solutions that our customers will want to use again and again.”
The alliance with Fred’s builds upon Western Union’s strategy to join forces with retailers around the world to introduce innovative and unique prepaid solutions. Western Union currently offers stored-value products and services in nine countries through major retailers and Agents, such as
7-Eleven in the U.S., WH Smith in the U.K., AirPak in El Salvador, and UnionBank in the Philippines.
Western Union’s GPR cards have won numerous industry awards, including best overall GPR program (Western Union® MoneyWise Prepaid MasterCard) and best consumer value (Western Union Gold Card Prepaid MasterCard). Western Union is recognized as a leader in the industry for its fee-friendly cards, which, unlike some competitors, have no monthly maintenance fees, no purchase transaction fees and no overdraft or late-payment fees. To learn more about Western Union’s prepaid cards, visit www.wuprepaid.com.
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 June 30, 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 2011, The Western Union Company completed 226 million consumer-to-consumer transactions worldwide, moving $81 billion of principal between consumers, and 425 million business payments. For more information, visit www.westernunion.com.
Founded in 1947, Fred’s operates 705 discount general merchandise stores, including 21 franchised Fred’s stores, mainly in the southeastern states. Fred’s stores stock more than 12,000 frequently purchased items that address the everyday needs of its customers, including nationally recognized brand-name products, proprietary Fred’s label products, and lower-priced, off-brand products. The company is headquartered in Memphis, Tenn.
Source: Western Union