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.
About Fred’s
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.
WU-G
Source: Western Union