Western Union Launches New Platform Enabling Stored-Value Solutions Worldwide

Multiple Clients on Board with Global Share Partner Platform

BOSTON–(BUSINESS WIRE)– As part of its continuing commitment to create innovative solutions that address unmet needs in the marketplace, Western Union today announced two significant milestones in its Stored-Value division.

The first is the launch of the Western Union^® Global Share platform, which enables the company to introduce new stored-value solutions in markets around the world by joining forces with local companies.

The platform allows local companies to enhance their overall value proposition by leveraging many of Western Union‘s strengths in the marketplace, including the largest network of its kind in the world, its globally recognized brand and its expertise in moving money across borders.

The Global Share platform model enables both Western Union and its clients to develop enhanced value propositions in the marketplace by leveraging each other’s complementary assets.

At the Innovation Project at Harvard University today, Western Union also announced that it has already signed agreements with six companies for solutions that meet a variety of needs around the globe.

“The launch of the Western Union Global Share platform and the addition of six companies are proof that Western Union is a relevant, wide-reaching and powerful brand – one with the trust of millions of customers,” said Diane Scott, Executive Vice President, Chief Product and Marketing Officer, Western Union. “We are truly a partner of choice for companies around the world.”

The six companies are:

Access Prepaid Worldwide (global): Western Union and Access Prepaid, a fully-owned subsidiary of MasterCard, are working together to introduce Western Union-branded multicurrency travel cards in multiple countries around the world. With these accounts, travelers can load funds at select Western Union Agent locations worldwide and manage their money in multiple currencies, delivering both convenience and savings. This agreement is part of Western Union‘s global partnership with MasterCard to make electronic payments and financial services more efficient and accessible for consumers.

Advent Financial (U.S.): The companies are now offering government tax disbursements on prepaid cards at more than 5,000 locations in 45 states. The solution offers quicker and more convenient access to refunds than a paper check, and delivers additional features such as cash reload services …read more
Source: FULL ARTICLE at DailyFinance