In a pair of announcements, The Western Union Company said it has expanded its prepaid card business both internationally and in the United States.
In the first announcement, the company said it has added two nations to the countries where remittance recipients can receive funds on prepaid cards.
The Western Union Company (NYSE: WU), a global leader in financial services, today announced that it has extended its prepaid receive card program to Costa Rica and Guatemala. The card, launched in El Salvador last year, strategically leverages the global Western Union Agent network.
Read the press release here.
In a separate announcement, Western Union said it will offer prepaid cards in the United States for tax refunds.
Beginning next week, people filing their federal and state tax returns at tax-return preparation offices offering financial products through Advent can elect to receive their refunds on the Get It Prepaid MasterCard ®, a general-purpose reloadable (GPR) prepaid card offered by Western Union and Advent.
Read the press release here.
The announcements represent the opening of new markets for Western Union, one geographic and the other a new business segment. They show how prepaid can be applied across segments and across borders to meet customer needs.