Western Union and EZCORP Sign Agreement
Western Union Services Will Be Available at over 1,200 EZCORP-Operated Store
Locations in the United States, Mexico and Canada
ENGLEWOOD, Colo. and AUSTIN, Texas, Nov. 6, 2012
ENGLEWOOD, Colo. and AUSTIN, Texas, Nov. 6, 2012 /PRNewswire/ -- The Western
Union Company (NYSE: WU), a leader in global payments, and EZCORP, Inc.
(NASDAQ: EZPW), a leading provider of instant cash solutions for consumers,
today announced an agreement.
Under the terms of the agreement, Western Union Money Transfer^®, money order
and consumer bill payment services will be available at over 900
EZCORP-operated store locations in the United States. Western Union money
transfer services also will be available at more than 300 EZCORP-operated
store locations in Mexico and Canada.
"Our agreement with Western Union will allow EZCORP to provide vital money
transfer and other payment services, thereby deepening our relationship with
our customer base," said Paul Rothamel, EZCORP's President and Chief Executive
Officer. "Western Union is an established global brand, and the company
facilitates the reliable and timely movement of money through a substantial
international network. Aligning with Western Union is a natural choice for
EZCORP, as we remain committed to providing exceptional service and meeting
our customers' wide variety of financial needs."
EZCORP operates more than 900 locations in the United States under various
brand names, including EZPAWN, Value Pawn & Jewelry and EZMONEY. The
company's presence in Mexico includes 230 Empeno Facil or Empene Su Oro
stores, and a 60% ownership interest in Crediamigo, a specialty consumer
finance company. In Canada, EZCORP operates 70 cash advance and buy/sell
stores under the brand names Cash Converters and Cashmax. The company also
has strategic relationships with Albemarle & Bond Holdings PLC, one of the
U.K.'s largest pawnbroking businesses, and Cash Converters International
Limited, which franchises and operates a worldwide network of personal
financial services and retail stores. EZCORP was named to Fortune Magazine's
100 fastest growing companies list in both 2010^1 and 2011^2.
"Western Union is positioned at the nexus between cash and electronic
technologies," said Victoria Lopez-Negrete, Senior Vice President and General
Manager, North America at Western Union. "Our relationship with EZCORP will
now enable consumers to send and receive money transfers, purchase money
orders and make bill payments – all in one convenient location."
EZCORP is a leading provider of instant cash solutions for consumers employing
6,500 teammates and operating 1,262 company-operated pawn, buy/sell and
personal financial services locations in the U.S., Mexico and Canada. We
provide a variety of instant cash solutions, including pawn loans, consumer
loans, and fee-based credit services to customers seeking loans. At our pawn
and buy/sell stores, we also sell merchandise, primarily collateral forfeited
from pawn lending operations and used merchandise purchased from customers.
EZCORP owns controlling interests in Prestaciones Finmart, S.A.P.I. de C.V.,
SOFOM, E.N.R. (doing business under the name "Crediamigo"), a leading provider
of payroll deduction loans in Mexico, and in Artiste Holding Limited (doing
business under the name "Cash Genie"), a leading provider of online loans in
the U.K. The company also has significant investments in Albemarle & Bond
Holdings PLC (ABM.L), one of the U.K.'s largest pawnbroking businesses with
over 180 full-line stores offering pawnbroking, jewelry retailing, gold buying
and financial services; and in Cash Converters International Limited (CCV.L
and CCV.ASX), which franchises and operates a worldwide network ofalmost 700
stores that provide personal financial services and sell pre-owned
merchandise. For more information, visit www.ezcorp.com.
About Western Union
The Western Union Company (NYSE: WU) is a leader in global payment services.
Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business
Solutions branded payment services, Western Union provides consumers and
businesses with fast, reliable and convenient ways to send and receive money
around the world, to send payments and to purchase money orders. As of
September 30, 2012, the Western Union, Vigo and Orlandi Valuta branded
services were offered through a combined network of approximately 510,000
agent locations in 200 countries and territories. In 2011, The Western Union
Company completed 226 million consumer-to-consumer transactions worldwide,
moving $81 billion of principal between consumers, and 425 million business
payments. For more information, visit www.westernunion.com.
1. Fortune Magazine Fastest Growing Companies List, 2010:
2. Fortune Magazine Fastest Growing Companies List, 2011:
Media Contacts: EZCORP Investor Relations:
L'Teisha Ryan, Western Union (512) 314-2220
+1 (720) 332-3824 Investor_Relations@ezcorp.com
SOURCE EZCORP, Inc.
Press spacebar to pause and continue. Press esc to stop.