|Sarah Ely MasterCard Worldwide 914-249-6714|
Univision Partners with MasterCard to Deliver Prepaid Financial Services
Companies Provide Financial Empowerment Tools
“Univision’s mission is to inform, empower and entertain the Hispanic community,” said Joe Uva, president and chief executive officer, Univision. “We recognize, better than anyone, the importance of empowering Hispanics by connecting them with financial tools and services they can trust. Our financial services offering is an extension of our ‘Cuentas Claras’ initiative. We’re proud to partner with MasterCard, a payments leader that shares our goal of providing the tools, resources and services to empower our community.”
The Univision Prepaid MasterCard Card will offer the U.S. Hispanic community a culturally relevant, safe, cost-effective alternative to cash. The prepaid card reduces the inconvenience and costs related to cashing checks and enables consumers to better track and manage spending by providing them with the ability to monitor when and where they make purchases with the card.
“We are working closely with Univision, leveraging their unique knowledge and reputation within the Hispanic community, to develop solutions that meet the payment needs of U.S. Hispanic consumers,” said Chris McWilton, president, U.S. Markets, MasterCard. “Many U.S. Hispanics rely heavily on cash, and in doing so fail to take advantage of the safety, convenience and reliability of electronic payments. Together with Univision we will provide access to financial products and education that benefit the Hispanic community and open the door to the mainstream financial system for many individuals who are not currently well served by it.”
According to a study by the Center for Financial Services Innovation (CFSI), approximately 40 million U.S. Households are financially underserved (106 million people), of whom 19 percent are Hispanic. In addition, 35.4 percent of Hispanic-Americans are unbanked vs. 31.6 percent of Black Non-Hispanic Americans and 11.2 percent of Other Americans (i.e., Non-Hispanic and non-Black, including Asian-Americans and Whites).
The Univision MasterCard prepaid products will be issued by The Bancorp Bank pursuant to license by MasterCard International Incorporated.
About Univision Communications Inc.
Univision Communications Inc. is the premier Spanish-language media company in the United States. Its operations include Univision Network, the most-watched Spanish-language broadcast television network in the U.S. reaching 95% of U.S. Hispanic Households; TeleFutura Network, a general-interest Spanish-language broadcast television network, which was launched in 2002 and now reaches 85% of U.S. Hispanic Households; Galavisión, the country’s leading Spanish-language cable network; Univision Television Group, which owns and operates 64 television stations in major U.S. Hispanic markets and Puerto Rico; Univision Radio, the leading Spanish-language radio group which owns and/or operates 68 radio stations in 16 of the top 25 U.S. Hispanic markets and 5 stations in Puerto Rico; and Univision Interactive Media, which includes http://www.univision.com, the premier Spanish-language Internet destination in the U.S., and Univision Móvil, the industry’s most comprehensive Spanish-language suite of mobile offerings. Univision Communications also has a 50% interest in TuTv, a joint venture formed to broadcast Televisa’s pay television channels in the U.S. Univision Communications has television network operations in Miami and television and radio stations and sales offices in major cities throughout the United States. For more information, please visit www.univision.net.
About MasterCard Worldwide
MasterCard Worldwide advances global commerce by providing a critical economic link among financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes approximately 21 billion transactions each year, and provides industry-leading analysis and consulting services to financial-institution customers and merchants. Powered by the MasterCard Worldwide Network and through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercard.com.