Prepaid card, send-money-to-yourself offerings address unmet needs in
market
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
Western Union today announced the introduction of two offerings to
address many of the unmet needs of international travelers: a prepaid
card just for travelers and an option for travelers to send a Western
Union Money Transfer® transaction to themselves.
The two offerings will address different market segments: those who rely
on cash while traveling, and those who prefer to use a payment card.
“International leisure travelers have needs that are not being met by
the traditional financial system,” said Diane Scott, Executive Vice
President, Chief Product and Marketing Officer, Western Union. “Western
Union connects cash with the electronic world in a way no other company
can, and we’re proud to introduce solutions that our customers want and
need.”
For travelers headed to developing countries like China, India,
Malaysia, Mexico and Thailand, where the need for cash is critical and
ATMs may be hard to find, Western Union now offers them the option to
send a money transfer to themselves prior to leaving for a trip. For
transfers to most countries, the foreign-exchange rate is determined
when the funds are sent, so travelers know exactly how much will be
waiting for them in cash when they arrive at their destination.
For travelers who prefer the convenience of card payments, the
general-purpose reloadable (GPR) Western Union TravelWiseTM
Prepaid MasterCard is a convenient and fee-friendly alternative to
carrying large amounts of cash.
The launch of these two offerings is part of the company’s continued
evolution to provide new and innovative products and services for a
variety of customers around the globe. Western Union is piloting the two
offerings in the U.S., the U.K. and Germany this year, and will continue
to expand the program in 2013 in additional countries with new features.
For more information about Western Union’s offerings for travelers,
visit www.westernunion.com/travel.
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 September 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.
WU-G
Source: Western Union