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 TravelWise TM 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
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts