Western Union, Consumer Portfolio Service and VeriSign Team to Offer Mobile Bill Payment Solution

Western Union, Consumer Portfolio Service and VeriSign Team to Offer Mobile Bill Payment Solution

Pilot Allows CPS Customers to Trigger Payments Directly From Their Mobile Devices

ENGLEWOOD, Colo., Apr 30, 2009 (BUSINESS WIRE) — The Western Union Company (NYSE: WU), together with Consumer Portfolio Services Inc. (CPS) and VeriSign’s Messaging and Mobile Media Division (NASDAQ: VRSN), today announced a pilot project enabling CPS customers to trigger their monthly car payment directly from their mobile phone. Unlike mobile payment services that direct the consumer to a website or interactive voice response system (IVR), the new service allows consumers to quickly and easily initiate their payment using their phone’s text messaging service based on debit or credit card information entered online.

According to Javelin Strategy and Research, approximately 58% of the adult population currently uses the text function on their mobile phone. As adults continue to increase their adoption of text messaging and more text message users adopt mobile banking, an opportunity has emerged for text-based bill payment. Western Union, a leading provider of bill payment services, and VeriSign, a leader in mobile messaging and mobile banking, have teamed with CPS to pilot a solution that offers convenience and ease of use to the wired consumer.

Here’s how it works:

* CPS customers sign up for the Western Union Bill Alert Text Message service online at http://www.consumerportfolio.com/ or by telephone at 888-469-4520
* The customer enters his CPS account number, mobile phone number and debit account information
* Once the consumer has confirmed enrollment, monthly alerts are sent through VeriSign, detailing the payment amount due
* The consumer submits his payment approval by texting “YESCPS” directly through the mobile device initiating a Western Union(R) Speedpay(R) transaction
* Western Union processes the payment which is then credited to the customer’s CPS account
* Consumers can end their participation in the program at any time by texting “STOP”

“The cell phone has become one of the world’s most widely used accessories, and text messaging is fast becoming one of its most frequent uses,” said David Shapiro, senior vice president, Western Union Payment Services. “As consumers have become more and more dependent on their phones, they have also raised their expectations with regard to functionality. The on-the-go consumer is looking for convenient ways to manage the business of living so it seems only natural to marry the necessity of paying bills to the convenience of texting via cell phone. As an experienced and trusted provider of bill payment services, Western Union is well positioned to play a leading role in this segment of the market.”

“At CPS, we want to make the process of making your auto loan payment as quick and convenient as possible,” said Chris Terry, senior vice president of Servicing, CPS. “That’s why we are excited about the possibilities presented by this pilot program. Instead of having to call an IVR, find a computer or navigate through their phone’s web browser, consumers can simply initiate a payment directly from the reminder text they receive each month from CPS. Because the consumer has already signed up for the program, there is no need to provide sensitive financial information via text. You simply text YESCPS and you’re done.”

The pilot program will run for approximately three months, at which time it will be evaluated for further rollout. Consumers interested in participating in the program should visit consumerportfolio.com.

“Mobile banking and payment services have reached a global tipping point,” said Michael Campbell, senior vice president, worldwide sales and marketing, VeriSign Messaging and Mobile Media. “Now that it has, it is critical to make it easier to use so it continues to flourish. That’s what VeriSign, Western Union and CPS have partnered to do.”

About Western Union

The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its Vigo and Orlandi Valuta branded money transfer services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a combined network of more than 379,000 Agent locations in 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.

About VeriSign Messaging and Mobile Media

VeriSign Messaging and Mobile Media is a division of VeriSign, the trusted provider of Internet infrastructure services for the networked world. Through this business unit, VeriSign provides global application services that reliably delivers short-messages (SMS), multimedia messages (MMS), and mobile content across wireless operators and mobile devices throughout the world. As a leader in mobile messaging, mobile banking and mobile content delivery, VeriSign offers a broad portfolio of mobile infrastructure and delivery services. Offering reliable delivery, a worldwide presence, and rapid and effective deployment, VeriSign has built a trusted and respected brand with global mobile operators, media content providers and enterprises. The reach, reliability and value add of VeriSign services enable these companies to capitalize on the rapidly growing messaging and media content markets. For more information, visit www.verisign.com.

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