Program follows successful launch of card in El Salvador with Western
Union Agent AirPak
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
The Western Union Company (NYSE: WU), a global leader in financial
services, today announced that it has extended its prepaid receive card
program to Costa Rica and Guatemala. The card, launched in El Salvador
last year, strategically leverages the global Western Union Agent
network.
The card, offered together with AirPak, Western Union’s Agent in Central
America, allows receivers of Western Union Money Transfer®
transactions to put all or part of those funds onto a prepaid MasterCard®.
The cards can be used wherever MasterCard is accepted worldwide,
including ATMs.
According to the World Bank, Guatemalans received $4.5 billion in
remittances last year, and just 22 percent have a bank account; Costa
Ricans received more than $585 million in remittances last year, and
half of the population has a bank account.
“This card has been very successful in El Salvador,” said Mike Hafer,
SVP, Global Stored Value, Western Union. “Customers have told us that
the card is easy to use anywhere MasterCard is accepted. We are excited
about the continued expansion of the program in Central America, where
there is strong consumer acceptance of stored-value solutions and a
documented need for greater financial inclusion.”
With the addition of Costa Rica and Guatemala, Western Union’s
stored-value products and services are now available in 12 countries,
including Argentina, Austria, El Salvador, Germany, India, Panama, Peru,
the Philippines, UK and the U.S.
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: The Western Union Company