With the GoCash service, consumers will have the option to select any of three prepaid amounts ranging from $50; $100; and $200. GoCash can be purchased for both domestic and international money transfers. Once purchased, the sender will need [image-nocss] to complete the transaction over the phone through a Western Union customer service representative and provide the money-transfer information to the receiver.
The InComm agreement builds upon Western Union's prepaid go-to-market strategy in the United States, and complements Western Union's consumer experience by giving consumers the convenience of being able to pay for a domestic or global money-transfer while shopping at select locations.
"As prepaid products gain momentum with consumers, particularly in today's economy, Western Union sees the GoCash service as an opportunity to strengthen 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, executive vice president and president of the Americas for Western Union.
InComm partners with more than 150,000 retail locations. Through its relationship with InComm, Western Union can offer the convenient GoCash service to consumers through many of these grocery and convenience stores, pharmacies or mass merchandiser locations.
Brooks Smith, InComm CEO and president, said, "The Western Union GoCash prepaid money-transfer service brings strategic value to our portfolio of stored-value gift and prepaid financial services products, backed with a leading global brand recognized by consumers."
In 2008, Greenwood Village, Colo.-based Western Union completed 188 million consumer-to-consumer transactions worldwide, moving $74 billion of principal between consumers, and 412 million consumer-to-business transactions.
Atlanta-based InComm, with nearly $8 billion in retail sales transactions processed in 2008, is a major provider of gift cards, prepaid wireless products, reloadable debit cards, digital music downloads, content, games, software and bill payment solutions. InComm partners with consumer brand leaders around the world to provide more than 150,000 retail locations the products and services their customers demand.
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