Following one day after the announcement that 7-Eleven would offer reloading services for NetSpend prepaid cards, the company announced with Western Union Co. that it will sell Western Union’s general purpose, reloadable prepaid cards in its store.
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 U.S.
Distribution is a critical part of any prepaid program’s success, and adding 7-Eleven will boost Western Union’s network. In addition, 7-Eleven’s expansion of its prepaid products means that the company will have the ability to meet the financial needs as well as the snacking needs of its customers. It may even lead those customers to its stores more often.