DFC Global Corp international diversified financial services company serving primarily unbanked and under-banked consumers announced at the Company’s special meeting of stockholders a majority of the outstanding shares of DFC Global common stock voted to approve the acquisition of DFC Global by an affiliate of Lone Star Funds (“Lone Star”). Houlihan Lokey Capital, Inc. is acting as financial advisor to DFC Global in connection with the transaction. Pepper Hamilton LLP is acting as DFC Global’s legal advisor. Jefferies LLC is acting as lead financial advisor to Lone Star Funds and Credit Suisse Securities (USA), LLC is acting as financial advisor. Jefferies Finance LLC and Credit Suisse AG are providing debt financing commitments for the acquisition.
Western Union made its services are now available in 13 of Myanmar’s 14 states and divisions, with the addition of 100 branches at Kanbawza Bank (KBZ Bank). Since the launch of Western Union Money Transfer services at six bank Agents in January this year, consumers from 74 countries including Australia, Canada, Japan, Malaysia, Singapore, Thailand, UAE, US, UK and other European countries, have sent money into Myanmar through Western Union. With the addition of KBZ Bank, the Western Union Money Transfer service is now offered through a combined network of 250 bank branches across seven divisions and six states in Myanmar.
Kroger prepaid debit cardholders can now enjoy surcharge-free transactions at all ATMs that offer the MoneyPass Network network of over 23,000 ATM locations. Surcharge-free MoneyPass ATM transactions are an extension of U.S. Bank’s extensive financial services relationship with The Kroger Co retailers. In 2010, U.S. Bank and Kroger formed a strategic alliance that offered Kroger customers and associates a suite of payment products and financial services, including reloadable prepaid debit products that offer rewards with every purchase and can be used to shop and pay bills online.
Having deployed its global money-transfer service in conjunction with more than 4,880 Banco Bradesco banking center locations in Brazil, Western Union can now orchestrate money transfers in Brazil from abroad. Bradesco is the first private bank to offer the Western Union money transfer service in Brazil. As Western Union expands its money movement service offerings, and in an effort to strengthen both its relationship and value proposition with consumers, the company looks to tap into cash, account and card-based solutions.
The Western Union Foundation announced a $50,000 contribution to the Mercy Corps international nonprofit organization in support of Peace Winds Japan.The Western Union Company has also set up a special account to enable consumers in the U.S. to support disaster-relief efforts in Japan. Consumers can donate to Mercy Corps by sending a no- fee money transfer using the Western Union “Quick Collect” service (code city: Japan Relief, CO) through a participating Western Union Agent location. Individuals can send up to $5,000 over the next 30 days, concluding April 14, 2011.
Kroger’s family of stores customers will earn free groceries and fuel discounts with every purchase when they use their “1-2-3 REWARDS” MasterCard, “Fred Meyer Rewards MasterCard”, “Ralphs rewards plus MasterCard” or the “1-2-3 REWARDS from U.S. Bank” prepaid debit Visa card. Beginning Nov. 8, existing cardholders’ accounts will transfer to U.S. Bank, which gives Kroger customers access to new benefits like mobile banking and 24-hour customer service. Cardholders who make purchases using their rewards card automatically earn points toward reward certificates for free groceries. Every dollar spent earns rewards points, with double points earned for purchases made in Kroger’s family of stores and triple points for buying store-brand products.
The Western Union Company has introduced its enhanced walk-in payments service, offering formless payment for speed and convenience for same-day, next-day and second-day payment options. Throughout its U.S. network of 4,000 biller payment receivers, consumers will enjoy “one stop” convenience for mortgage, auto loan, credit card, utility, insurance, telecommunications and more. This is meant to complement Western Union’s web-based and text payment options, supporting its commitment to being an industry innovation leader in comprehensive payments solutions for consumers. Western Union has also eliminated the need for consumers to enter non-intuitive biller codes to make their payments for additional ease.
Western Union has partnered with CCH Small Firm Services (SFS) tax and accounting professionals to make available the “MoneyWise” MasterCard, providing income tax refunds on a reloadable prepaid debit card. The partnership will allow the nearly 200,000 tax professionals who use “TaxWise” and “ATX” SFS tax software programs, used to prepare more than 20 million tax returns annually, to provide their clients the convenient refund method. The “MoneyWise” Prepaid MasterCard also allows users to direct deposit paychecks onto the card; allows the user to reload money in-person at any of the over 46,000 participating Western Union Agent locations in the U.S.; load a Western Union Money Transfer transaction directly to the card; and add funds online using a bank account. The card can be used anywhere MasterCard Debit is accepted and is protected by MasterCard’s zero liability policy.
Gen Y’ers, the 87 million Americans age 18-34, are currently experiencing financial stress and difficulty in obtaining credit. Nearly 30% of Gen Y’ers report having difficulty in managing their spending, more than 20% wait longer to pay their bills, and 35% have borrowed money from friends or family members. Meanwhile, 50% report increased stress about financial obligations in the last six months; 33% have seen their financial situation worsen in the last six months; 27% have been turned down for a loan or line of credit; and 60% have not seen their credit score in the past year while 44% have never seen their credit score. In response to these findings, by Western Union, the same Company is recommending consumers establish a Budget using the multitude of free online tools; Know their Credit Score; keep up with bills and build an emergency fund.
Murphy Oil USA, is set to offer the Western Union “GoCash” in-lane
money transfer service at 1,055 Murphy USA gas
stations and Murphy Express convenience stores in 21 states. With the
“GoCash” service, consumers will have the option to select $50; $100;
and $200. GoCash can be purchased for both domestic
and international money transfers. Once purchased, the sender will need
to complete the transaction over the phone through a Western Union
customer service representative and provide the money-transfer
information to the receiver. The agreement builds upon Western Union’s
go-to-market strategy in the United States, and complements Western
Union’s consumer experience by giving consumers the convenience of being
able to send a domestic or global money transfer while shopping at
Murphy USA and Murphy Express convenience store locations. Consumers
also will have the ability to purchase money order services at select
Money transfer service Western Union has launched “Return the Love”, a
national Mother’s Day Campaign designed to encourage consumers to give
mom the perfect gift. Western Union, Wyclef Jean and “Queen of Latin Pop”
Paulina Rubio, “Return the Love” with special performances and
appearances at the Billboard Latin Music Conference& Awards with a
concert honoring military moms. A recent Western Union consumer survey
found 42% find it hard to shop for the perfect gift for mom. The survey
also found 42% of moms have pretended to like a Mother’s Day gift; and
separately, 30% thought the gift was either “thoughtful” but not a gift
they wanted, or they did not receive a gift at all. Kick-off special
performance dedicated to moms featuring Wyclef Jean and Paulina Rubio at the
Billboard Latin Music Awards, on April 29, produced and broadcast live
The Western Union Company has signed an agreement with a major distribution network wit C-store chain Martin McColl. The agreement with Martin McColl represents an excellent opportunity for Western Union to expand its distribution network in the U.K., adding 700 new locations to the existing network of more than 11,000 Agent locations, consisting mainly of high-street retailers and banks and represents a significant step in Western Union’s strategy to expand its network, diversify its customer base, attract mainstream customers to its money transfer service and promote such relatively new services as European and domestic money transfers. As of September 2010, Western Union national and international money transfer services will be offered at 700 Martin McColl stores throughout the country.