Western Union announced May 17 that it has signed an agreement with Telemundo, a television channel owned by NBC Universal that focuses on Hispanics, to offer a co-branded reloadable MasterCard prepaid card. The deal, which follows shortly on NetSpend’s agreement with Black Entertainment Television, is the latest example of prepaid card providers teaming up with media content providers to reach a particular market segment. Univision also offers a prepaid card.
The agreement, to be supported with a national integrated campaign, beyond prepaid, to include television, digital, and direct to consumer marketing efforts, was announced today by Western Union, Telemundo and Big Tent Entertainment, the licensing agent of record for the Telemundo brand, on behalf of NBC Universal Television Consumer Products Group. The agreement also paves the way for powerhouse brands such as Telemundo, mun2 and Western Union to leverage their presence to better serve Hispanic consumers, the fastest growing consumer segment in the U.S.
Western Union is a well-recognized brand among Hispanics, so the success of the promotion hinges on the prepaid acceptance and need among the Telemundo market. The cards will be available online and through retailers. So, tailoring the distribution will go a long way towards encouraging adoption.
These kinds of deals show that the competition in the prepaid market is heating up, a subject covered in a blog about the NetSpend agreement. (See: The Prepaid Card Brawl is About to Begin).
