Source: Trumpet Mobile
Trumpet Mobile and RadioShack Corporation (NYSE: RSH) today announced the nationwide availability of Trumpet Mobile's prepaid wireless services at more than 4,300 RadioShack neighborhood locations.
As one of the fastest growing prepaid wireless service providers, Trumpet Mobile is a pioneer in the prepaid mobile money transfer market, which allows subscribers the unique ability to make Western Union money transfers within the U.S. and to Latin America and the Caribbean from their mobile phones.
In addition to international mobile money transfers, Trumpet Mobile's other differentiated service offerings connect RadioShack customers to innovative, yet affordable technology they can use with either their individual or family plans. This includes features such as access to the first prepaid family plan, a competitive low prepaid domestic rate plan of 10 cents per minute, industry leading international long distance rates as low as three cents per minute, messaging for as low as five cents per message, and a loyalty reward program that gives mobile subscribers bonus minutes for airtime usage.
In 2007 Trumpet Mobile introduced prepaid mobile money transfers in the U.S. in a pilot with global money-transfer company Western Union. With the Trumpet CashCard the service gives mobile subscribers the ability to make secure money transfers. This feature is particularly attractive for RadioShack customers who do not have a bank account and are not affiliated with a traditional financial institution yet have financial obligations.
According to the Center for Financial Services Innovation, 40 million American households are unbanked or underbanked, roughly 90 million individuals(1), yet conduct more than $13 billion annually in alternative financial services transactions. Latin American immigrants working in the U.S. are one of many growing segments in the U.S. that will benefit from mobile financial services. The Inter-American Development Bank (IDB) recently reported that Latin American immigrants working in the U.S. will send an estimated $45 billion to their home countries each year, up from previous years. That number is anticipated to grow in coming years to surpass $100 billion annually by 2010.
As a leading wireless retailer, RadioShack is uniquely positioned to serve its neighborhood customers who are looking for personalized technology solutions.
"We're excited about adding Trumpet Mobile services, because it offers our customers the unique ability to transfer money within the U.S. or to Latin America and the Caribbean using nothing more than their mobile phones," said Bob Kilinski, RadioShack's senior vice president, marketing-wireless. "With handsets starting as low as $29.99, or $19.99 with our introductory rebate, Trumpet Mobile is an extremely affordable prepaid solution that offers a unique value to our customers and is a great addition to our wide selection of prepaid and post-paid wireless services."
Key to the Trumpet Mobile customer advantage is Western Union, which provides the backbone through which intra-country and cross-border money transfers can occur.
"Western Union continues to seek innovative ways to offer our consumers choices in how they send and receive money," said Matt Dill, general manager, Western Union Mobile. "Trumpet Mobile is our first demonstration of the mobile money transfer service, and we have learned a great deal from our involvement that we are applying to our pilots around the world. We see Trumpet Mobile as an exciting way to introduce financial services to a new segment of consumers."
"By bundling great mobile phones, affordable rate plans, low cost international calling, the instant issue Trumpet CashCard and easy-to-use mobile money transfers, we are delivering significant value to RadioShack customers in two areas they care about most -- managing their money and staying in touch with their family and friends," said John W. Carney, chief executive officer of Affinity Mobile, the parent company of Trumpet Mobile. "Furthermore, loading money onto the card and making mobile money transfers with your Trumpet Mobile phone is safer than carrying cash in your back pocket. As we talk with Trumpet Mobile subscribers, they tell us that in addition to the convenience of being able to send money to their family and friends, day or night, they like the security it gives them. As a leading money transfer provider in the world, we are excited to have Western Union enabling the mobile money transfers via Trumpet Mobile."
Trumpet Mobile leverages Affinity Mobile's MADE platform to enable secure mobile financial services capabilities. This includes debit card (PIN) purchases, ATM withdrawals and reloading Trumpet Mobile airtime using money on the Trumpet CashCard. The Trumpet CashCard is issued by The Bancorp Bank, Member FDIC.
Trumpet Mobile is now available exclusively at participating neighborhood RadioShack retail locations in the U.S. and Puerto Rico.