ENGLEWOOD, Colo., June 28 /PRNewswire/ -- Western Union Financial
Services, Inc., a subsidiary of First Data Corporation (NYSE: FDC), today
announced that its Western Union(R) Cash Card(SM) service has been approved
for a stored-value pilot program with the STAR Network, the leading Electronic
Payments Network in the United States. The Western Union Cash Card is issued
by Western Union Industrial Bank.
Membership in the STAR Network will allow consumers to pay for goods and
services and get cash using the Western Union Cash Card at more than 620,000
participating ATMs and merchant locations, including grocery stores,
convenience stores, gas stations and restaurants.
The Western Union Cash Card service is a pre-paid debit program providing
consumers without traditional banking relationships the means to conduct
financial transactions electronically. Consumers can receive direct deposit
of payroll or federal benefits and can transfer funds into the program at
participating Western Union agent locations. They can also use the card to
access those funds at ATMs or participating Western Union agent locations, and
to make purchases at merchant locations throughout the United States.
"Approximately 20 percent of all Americans do not have checking accounts
or credit cards," says Doug McNary, President First Data Integrated Debit
Services, which manages the Western Union Cash Card program. "The Western
Union Cash Card service allows these consumers to enter the world of
electronic finance -- to access funds and make purchases as safely and
conveniently as any traditional bank cardholder. And, with their network of
hundreds of thousands of merchants and ATM terminals, our membership in the
STAR Network means that Western Union customers now have more financial
options than ever before."
Already available through ATMs in the PLUS Network, the addition of the
STAR Network adds to the functionality of the Western Union Cash Card making
it an attractive option for employers who are seeking electronic payroll
alternatives. "Using the Cash Card Corporate Program to distribute payroll
can save employers both time and money," says McNary. "With paper checks you
have to worry about paycheck stock and storage, fraud, stop payments,
reconcilements and out-of-cycle checks. The Western Union Cash Card cuts the
risk of paying wages in cash or check and the process is as simple as sending
us an ACH file using your current federal direct deposit procedure."
Western Union Financial Services, Inc. is a worldwide leader in consumer
money transfer services. The company provides rapid money transfer service
through more than 86,000 agent locations in 178 countries worldwide. Famous
for its pioneering telegraph service, the original Western Union dates back to
1851 and introduced electronic money transfer service in 1871. For more
information, please visit the company's web site at http://www.westernunion.com.
Atlanta-based First Data Corp. (NYSE: FDC) helps move the world's money.
As the leader in electronic commerce and payment services, First Data serves
more than two million merchant locations, 1,400 card issuers and millions of
consumers, making it easier, faster and more secure for people and businesses
to buy goods and services. For more information, please visit the company's
Web site at http://www.firstdatacorp.com.
SOURCE Western Union Financial Services, Inc.
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Related links:
http://www.westernunion.com
Company News On-Call:
http://www.prnewswire.com/comp/138116.html or fax,
800-758-5804, ext. 138116
CONTACT:
Peter Ziverts of Western Union, 303-488-8017
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