ENGLEWOOD, Colo.--(BUSINESS WIRE)--The Western Union Company (NYSE:WU), a leader in global payments, and 7-Eleven, Inc., the world’s largest convenience retailer, have signed a prepaid agreement to offer consumers the ability to obtain The Western Union® MoneyWise™ General Purpose Reloadable prepaid card at 7-Eleven, Inc.’s store locations. The card will be available at select 7-Eleven U.S. retail locations early next year.
“The Western Union MoneyWise prepaid card incorporates all the benefits of a reloadable prepaid card, including convenience and ease of use, which is what our customers want.”
The 7-Eleven agreement builds upon Western Union's prepaid go-to-market strategy. The Western Union MoneyWise Prepaid Card will be a new service option for consumers who already purchase Western Union money orders at more than 6,000 U.S. 7-Eleven retail locations. The agreement also positions 7-Eleven as the largest retail seller of the Western Union MoneyWise prepaid reloadable card product in the U.S.
"The Western Union prepaid card will provide more options and convenience for consumers in managing their everyday finances,” said Carter Hunt, Western Union’s senior vice president of global key accounts. “Western Union sees its suite of prepaid card services as an opportunity to continue strengthening both its relationship and value proposition with consumers seeking convenient prepaid services, and mass market retailers preferring to efficiently manage prepaid services at the check-out counter.”
“We are offering this card to our customers because it provides consumers with the convenience of a reloadable prepaid card without many of the fees, such as monthly maintenance, purchase transaction and customer-service fees,” said Jesus Delgado-Jenkins, 7-Eleven’s senior vice president of merchandising, marketing and logistics. “The Western Union MoneyWise prepaid card incorporates all the benefits of a reloadable prepaid card, including convenience and ease of use, which is what our customers want.”
The Western Union MoneyWise Prepaid Card was awarded two 2011 PayBefore Awards in the following categories, among other winners: Best General Purpose Reloadable Program: In-Person Sales Channel Category and Best Prepaid Program Media Advertising Category. Additional benefits and information are available at: www.westernunion.com.
1Fees and charges will be deducted from the card account balance in certain situations. Common card fees include: $1.95 ATM Withdrawal Fee (plus applicable ATM operator fees), $0.45 ATM Inquiry/Decline Fee, $2.50 monthly Inactivity Fee after 12 months of non-use and a $4.95 Reload Fee. Additional fees could include Re-issue card fee of $5, Bank to card transfer fee of $1, paper statement fee of $3, cash withdrawal at bank counter fee of $25.00, stop payment fee of $4.95, check processing fee of $25.00 and currency conversion gains and fees. See Cardholder Agreement for a complete description of fees.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses close to 8,900 7-Eleven® stores in North America. Globally, there are approximately 43,300 7-Eleven stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales close to $63 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine’s 2011 list of Top Franchises for the Money; #4 spot on Entrepreneur magazine’s Franchise 500 list for 2009, #3 in Forbes magazine’s Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year honor from PL Buyer because of the company's private-label brand initiative. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.
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. The Western Union, Vigo and Orlandi Valuta branded services are offered through a combined network of approximately 470,000 Agent locations in 200 countries and territories. In 2010, The Western Union Company completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers, and 405 million business payments. For more information, visit www.westernunion.com.
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Daniel Diaz, +1 720-332-5564
Margaret Chabris, +1 972-828-7285