The market for General Purpose Reloadable (GPR) prepaid cards has fragmented even further with the announcement that Western Union will offer its prepaid cards through InComm retail locations. InComm, a prepaid card distributor and mall operator, provides Western Union with access to 225,000 retail locations, which means that the cards could reach a large number of consumers. As the number of prepaid card programs go, a strong distribution network will be critical to the success of what is a volume dependent business.
“As prepaid products continue to gain momentum with consumers, particularly in today’s economy, 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,” said Stewart A. Stockdale, President, The Americas and EVP, Global Cards & Global Key Accounts, Western Union.
Read the full press release here: http://ir.westernunion.com/phoenix.zhtml?c=203395&p=irol-newsArticle&ID=1520122&highlight
