7-Eleven, Western Union Sign Prepaid Agreement

Published in CSP Daily News

Positions chain as largest retailer of MoneyWise prepaid reloadable cards in U.S.

DALLAS -- 7-Eleven Inc. has signed a prepaid agreement with The Western Union Co. to offer consumers the ability to obtain The Western Union MoneyWise General Purpose Reloadable prepaid card at 7-Eleven's stores. The card will be available at select 7-Eleven U.S. retail locations early next year.

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 United States.

"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."

Carter Hunt, Western Union's senior vice president of global key accounts, said, "The Western Union prepaid card will provide more options and convenience for consumers in managing their everyday finances. 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 checkout counter."

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.

Western Union, based in Englewood, Colo., is a leader in global payment services. 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. 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, Western Union completed 214 million consumer-to-consumer transactions worldwide, moving $76 billion of principal between consumers and 405 million business payments.

Dallas-based 7-Eleven operates, franchises or licenses approximately 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 of nearly $63 billion.