The master of secure cash handling is bring its money skills to payment cards with the launch of the Brink’s Prepaid MasterCard. TSYS’ NetSpend is the exclusive program manager and processor for the Brink’s prepaid card, issued by BofI Federal Bank.
The move by Brink’s into general purpose reloadable prepaid cards is the company’s latest push in the North American consumer payments market and brings a respected and familiar consumer brand to a high-growth market.
The new card offers three purchase plan options:
1. Pay-As-You-Go Plan for no monthly fee but $1.00 for each signature purchase transaction and $2.00 for each PIN purchase transaction.
2. Monthly Fee Plan is $9.95 per month and there is no fee for either signature or PIN purchase transactions.
3. Preferred Fee Plan is $5.00 per month and there is no fee for either signature or PIN purchase transactions.
The Foreign Transaction Fee for all plans is 3.5% of the U.S. Dollar amount of the purchase transaction.
Consumers can reload and find NetSpend Prepaid Cards at convenient locations nationwide through NetSpend’s extensive network of 130,000 reload points and more than 85,000 distributing locations and employers, including check cashers, convenience stores, grocers, pharmacies, insurance providers and tax preparers.
With approximately $5.2 billion in assets, BofI Federal Bank provides consumer and business banking products through its low-cost distribution channels and affinity partners.
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