Western Union is extending its prepaid card
platform to the UK.
The global payment services company is to
launch both the Western Union MasterCard Gift Card and the Western
Union GoCash Service, aiming to provide consumers with convenient
ways to share money anytime of the year.
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This is the first international extension of
Western Union’s prepaid programme outside the US, with further
expansion planned in Asia, Latin America and Europe.
It is estimated that Western Union – through
MasterCard – has deployed 1.2m prepaid cards in the US since its
launch last year.
This service is seen as the latest push by
companies to expand into prepaid cards, in an attempt to boost
revenues from processing smaller transactions.
The Western Union MasterCard Gift card can be
used at more than 32m traditional and online stores in the UK and
worldwide, wherever the MasterCard Acceptance Mark is
displayed.
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By GlobalDataThe card is the first product in its category
offering a unique chip-and-PIN function making it – they said – the
most secure gift card available to the UK market.
The Western Union GoCash service is an in-lane
prepaid money transfer service, allowing consumers to select from
three prepaid packages, ranging from £50 ($78), £100 and £200.
GoCash cards can be used for domestic and
international money transfers.
Cards International spoke to
MasterCard and Western Union, read the full story here: http://www.vrl-financial-news.com/logon.aspx?pagedenied=26713
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