RadioShack and Trumpet Mobile Launch Prepaid Mobile Phone Service Nationwide With Unique Mobile Money Transfer Capabilities
Trumpet Mobile First to Offer Ability to Transfer Money by Mobile Phone Throughout the U.S. and to Latin America Targeting the Growing Hispanic Population and the Unbanked
DALLAS, April 1 // PRNewswire // -- Trumpet Mobile and RadioShack Corporation (NYSE: RSH) today announced the nationwide availability of Trumpet Mobile's prepaid wireless services at more than 4,300 RadioShack neighborhood locations. As one of the fastest growing prepaid wireless service providers, Trumpet Mobile is a pioneer in the prepaid mobile money transfer market, which allows subscribers the unique ability to make Western Union money transfers within the U.S. and to Latin America and the Caribbean from their mobile phones.
In addition to international mobile money transfers, Trumpet Mobile's other differentiated service offerings connect RadioShack customers to innovative, yet affordable technology they can use with either their individual or family plans. This includes features such as access to the first prepaid family plan, a competitive low prepaid domestic rate plan of 10 cents per minute, industry leading international long distance rates as low as three cents per minute, messaging for as low as five cents per message, and a loyalty reward program that gives mobile subscribers bonus minutes for airtime usage.
In 2007 Trumpet Mobile introduced prepaid mobile money transfers in the U.S. in a pilot with global money-transfer company Western Union. With the Trumpet CashCard the service gives mobile subscribers the ability to make secure money transfers. This feature is particularly attractive for RadioShack customers who do not have a bank account and are not affiliated with a traditional financial institution yet have financial obligations.
According to the Center for Financial Services Innovation, 40 million American households are unbanked or underbanked, roughly 90 million individuals(1), yet conduct more than $13 billion annually in alternative financial services transactions. Latin American immigrants working in the U.S. are one of many growing segments in the U.S. that will benefit from mobile financial services. The Inter-American Development Bank (IDB) recently reported that Latin American immigrants working in the U.S. will send an estimated $45 billion to their home countries each year, up from previous years. That number is anticipated to grow in coming years to surpass $100 billion annually by 2010.
As a leading wireless retailer, RadioShack is uniquely positioned to serve its neighborhood customers who are looking for personalized technology solutions.
"We're excited about adding Trumpet Mobile services, because it offers our customers the unique ability to transfer money within the U.S. or to Latin America and the Caribbean using nothing more than their mobile phones," said Bob Kilinski, RadioShack's senior vice president, marketing-wireless. "With handsets starting as low as $29.99, or $19.99 with our introductory rebate, Trumpet Mobile is an extremely affordable prepaid solution that offers a unique value to our customers and is a great addition to our wide selection of prepaid and post-paid wireless services."
Key to the Trumpet Mobile customer advantage is Western Union, which provides the backbone through which intra-country and cross-border money transfers can occur.
"Western Union continues to seek innovative ways to offer our consumers choices in how they send and receive money," said Matt Dill, general manager, Western Union Mobile. "Trumpet Mobile is our first demonstration of the mobile money transfer service, and we have learned a great deal from our involvement that we are applying to our pilots around the world. We see Trumpet Mobile as an exciting way to introduce financial services to a new segment of consumers."
"By bundling great mobile phones, affordable rate plans, low cost international calling, the instant issue Trumpet CashCard and easy-to-use mobile money transfers, we are delivering significant value to RadioShack customers in two areas they care about most -- managing their money and staying in touch with their family and friends," said John W. Carney, chief executive officer of Affinity Mobile, the parent company of Trumpet Mobile. "Furthermore, loading money onto the card and making mobile money transfers with your Trumpet Mobile phone is safer than carrying cash in your back pocket. As we talk with Trumpet Mobile subscribers, they tell us that in addition to the convenience of being able to send money to their family and friends, day or night, they like the security it gives them. As a leading money transfer provider in the world, we are excited to have Western Union enabling the mobile money transfers via Trumpet Mobile."
Trumpet Mobile leverages Affinity Mobile's MADE platform to enable secure mobile financial services capabilities. This includes debit card (PIN) purchases, ATM withdrawals and reloading Trumpet Mobile airtime using money on the Trumpet CashCard. The Trumpet CashCard is issued by The Bancorp Bank, Member FDIC.
Trumpet Mobile is now available exclusively at participating neighborhood RadioShack retail locations in the U.S. and Puerto Rico. The location of the nearest participating RadioShack store can be found at http://www.trumpetmobile.com or http://www.RadioShack.com.
Puerto Rico: the Trumpet Mobile service does not include the Trumpet CashCard capabilities, including mobile money transfers.
About Trumpet Mobile
Trumpet Mobile is a prepaid wireless service provider that offers pay-as-you-go convenience, flexible options, national coverage and great quality phones. Unique features also include Family/Group Plan, the Trumpet CashCard and mobile money transfer services where you can send money almost anywhere in the U.S. and to most of Latin America and the Caribbean through Western Union, a trusted name in money transfers. The Trumpet Mobile brand is owned by Affinity Mobile. For more information about Trumpet Mobile, visit http://www.trumpetmobile.com.
About RadioShack Corporation
RadioShack Corporation (NYSE: RSH) is one of the nation's most experienced and trusted consumer electronics specialty retailers. Operating from convenient and comfortable neighborhood and mall locations, RadioShack stores deliver personalized product and service solutions within a few short minutes of where most Americans either live or work. The company has a presence through almost 6,000 company-operated stores and dealer outlets in the United States, over 150 RadioShack locations in Mexico and nearly 800 wireless phone kiosks. RadioShack's dedicated force of knowledgeable and helpful sales associates has been consistently recognized by several independent groups as providing the best customer service in the consumer electronics and wireless industries. For more information on RadioShack Corporation, or to purchase items online, visit http://www.RadioShack.com.
About Affinity Mobile
Affinity Mobile provides mobile financial services to the underserved around the world. Affinity's MADE platform enables secure mobile transactions and offers turnkey managed services for customers such as mobile network operators, financial institutions, retail merchants and remittance companies in order to provide faster time to market, with reduced risk and greater profitability. For more information about Affinity Mobile, visit http://www.affinitymobile.com.
About The Western Union Company
The Western Union Company (NYSE: WU) is a leader in global money-transfer services. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a network of more than 335,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit http://www.westernunion.com.
About The Bancorp Bank
The Bancorp Payment Solutions Group is a business unit of The Bancorp Bank, and offers secure, creative and innovative solutions for the prepaid card industry. As a leader in the prepaid card arena, The Bancorp Bank has contributed to the success of many Fortune 500 companies and has developed many cutting-edge prepaid card programs that drive the industry. Through their long-standing relationships with the MasterCard, Visa, and Discover card associations, industry networks and processors, The Bancorp Bank offers prepaid card programs that are innovative, flexible and designed to deliver a significant return on investment.