Immediate Gratification: NEW Honored for Developing Product Replacement Plan for Major Retailer

STERLING, Va.--(BUSINESS WIRE)--

N.E.W. Customer Service Companies (NEW), the nation's leading provider of extended service plans, buyer protection services and product support, today announced it has been named a winner in the 2012 Paybefore Awards in the “Best Prepaid Incentive, Reward, Rebate or Loyalty Program” category. The award celebrates the revolutionary impact of the Walmart product replacement plan, developed by NEW and InComm, which facilitates product replacement within 24 to 48 hours of filing a valid claim.

“Paybefore's recognition of NEW's Product Replacement Program is further affirmation of our commitment to bring to market unique consumer-centric products that drive satisfaction while building customer loyalty for our valued retail partners, such as Walmart,” said Joe Romano, senior vice president of NEW Client Services and Business Development. “Delivering a robust and seamless customer experience is what distinguishes NEW as a leader in the industry.”

The Paybefore Awards, the most prestigious recognition of excellence in the worldwide prepaid and stored value industry, recognizes global companies, retailers and government agencies across 20 categories that have implemented cutting-edge prepaid payment programs.

Under the Product Replacement Program, Walmart customers are provided an inactive replacement gift card upon purchase of a plan. To receive fulfillment, the customer files a replacement claim online or over the phone and returns the failed product using the provided shipping label. The gift card is then activated within as little as 24 to 48 hours.

The replacement program covers consumer electronics, small appliances and outdoor power equipment under $199. This program provides for coverage from breakdowns due to mechanical and electrical failures including those due to normal wear and tear and heat, dust and humidity. For portable electronics, this program covers breakdowns from accidental damage from handling, including drops, spills and cracked screens.

“Since the initial U.S. launch in 2009, consumers have expressed an overwhelmingly positive response to the ease and convenience this program provides, enabling consumers to return to their lives with minimal disruption,” said Rob DiRocco, vice president, NEW. “The program has also been introduced in Canada and Puerto Rico, and we are looking to expand the program into other channels over the next year.”

Click here to read more about the recipients of the 2012 Paybefore Awards.

About N.E.W. Customer Service Companies, LLC (NEW)

NEW, together with its affiliates and member companies, is the leading global provider of extended service plans, buyer protection services and product support, providing coverage to more than 150 million consumers around the world. Founded in 1983, with headquarters in Sterling, Va., NEW provides award-recognized post-sale consumer care for leading retailers, consumer service providers, wireless carriers and financial services firms in the United States, Canada, China, Japan, Turkey and the United Kingdom. NEW delivers a comprehensive customer care solution that begins on day one of the product purchase and extends through the end of the product life cycle. For more information, please visit NEW at http://www.newcorp.com or call 1-800 WHAT'S NEW (1-800-942-8763).