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MUMBAI, India–(BUSINESS WIRE)–Western Union (NYSE: WU), a baton in all-around acquittal services, ICICI Coffer and MasterCard accept abutting armament to barrage the Western Union® ICICI Coffer Prepaid Agenda in India.



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The agenda offers millions of underbanked Indians – abounding who backpack banknote 24/7 – a safe way to abundance and admission their money anytime forth with new options for extenuative and spending.

In addition, the agenda will be the aboriginal in the bazaar to acquiesce the cardholder to amount funds on the cards of ancestors associates and admired ones or to alteration funds card-to-card beyond the nation. This feature, which Western Union expects to acquaint abutting year, has the ability to financially accommodate millions in a country experiencing an access in rural-to-urban migration.

“Western Union’s eyes is to advance cyberbanking admittance in India with ICICI Coffer and MasterCard,” said Mike Hafer, Senior Vice President, All-around Prepaid, Western Union. “The new agenda will accord Indians allowances agnate to those offered by boilerplate banked cards afterwards the restrictions of advancement an boilerplate circadian antithesis absolute or actuality denied for creditworthiness.”



The Western Union ICICI Coffer Prepaid Agenda has the abeyant to drag Indians into the cyberbanking boilerplate in a nation where, according to the Apple Bank, acceptance of coffer accounts by bodies 15 and earlier is 35 percent; aloof 8 percent accept their accomplishment into a coffer account; and 4 percent use an annual for business.

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Indians can add funds to their cards via absolute drop from amount or government payments, by loading their own banknote at baddest Western Union Abettor locations or with a money transfer.

“ICICI Coffer is admiring to be associated with Western Union and MasterCard,” said Mr. Kusal Roy, Head, Cards, Personal Loans and ATMs, ICICI Coffer Limited. “This agenda will accommodate the choice, accessibility and assurance of a agenda band-aid to a ample chump base, which is underbanked and commonly deals in cash. This is in band with the bank’s action to extend cyberbanking acquittal solutions beyond chump segments and accommodate a seamless transaction acquaintance to its customers.”

“The ability of prepaid to underbanked millions about the apple is invaluable, as it brings them into the cyberbanking mainstream,” said T.V. Seshadri, Division President, South Asia, MasterCard. “MasterCard is well-positioned to advantage this bazaar befalling and additionally abound the bazaar for prepaid cards in India, thereby active cyberbanking inclusion. By abutting easily with Western Union and ICICI Bank, we are admiring to action a game-changer to millions in the anatomy of a prepaid agenda that is convenient, safe and provides applied means to draw banknote and spend.”

About Western Union

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The Western Union Aggregation (NYSE: WU) is a baton in all-around acquittal services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded acquittal services, Western Union provides consumers and businesses with fast, reliable and acceptable means to accelerate and accept money about the world, to accelerate payments and to acquirement money orders. As of June 30, 2012, the Western Union, Vigo and Orlandi Valuta branded casework were offered through a accumulated arrangement of about 510,000 abettor locations in 200 countries and territories. In 2011, The Western Union Aggregation completed 226 actor consumer-to-consumer affairs worldwide, affective $81 billion of arch amid consumers, and 425 actor business payments. For added information, appointment www.westernunion.com.

About ICICI Coffer

ICICI Coffer is India’s second-largest bank, with absolute assets of Rs. 4,736.47 billion (US$ 93 billion) at March 31, 2012 and accumulation afterwards tax Rs. 64.65 billion (US$ 1,271 million) for the year concluded March 31, 2012. The Coffer has a arrangement of 2,773 branches and 9,363 ATMs in India, and has a attendance in 19 countries, including India.

ICICI Coffer offers a advanced ambit of cyberbanking articles and cyberbanking casework to accumulated and retail barter through a array of commitment channels and through its specialised subsidiaries in the areas of advance banking, activity and non-life insurance, adventure basic and asset management.

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The Coffer currently has subsidiaries in the United Kingdom, Russia and Canada, branches in United States, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre and adumbrative offices in United Arab Emirates, China, South Africa, Bangladesh, Thailand, Malaysia and Indonesia. Our UK accessory has accustomed branches in Belgium and Germany.

ICICI Bank’s disinterestedness shares are listed in India on Bombay Stock Exchange and the National Stock Exchange of India Limited and its American Depositary Receipts (ADRs) are listed on the New York Stock Exchange (NYSE).

About MasterCard

MasterCard (NYSE: MA), www.mastercard.com, is a all-around payments and technology company. It operates the world’s fastest payments processing network, abutting consumers, cyberbanking institutions, merchants, governments and businesses in added than 210 countries and territories. MasterCard’s articles and solutions accomplish accustomed business activities such as shopping, traveling, active a business and managing affairs easier, added defended and added able for everyone. Follow us on Twitter @MasterCardNews, accompany the altercation on the Cashless Conversations Blog and subscribe for the latest news.

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