TSYS payment solutions and NetSpend general purpose reloadable (GPR) prepaid debit cards signed a definitive agreements by which TSYS will acquire NetSpend for $1.4 billion, cash. TSYS expects the transaction to be accretive to GAAP EPS for the first 12 month period following closing, excluding one-time acquisition related fees and expenses. NetSpend’s extensive distribution network provides consumers the ability to purchase prepaid debit cards at more than 62,000 distributing merchant locations, such as retailers, check cashers, convenience stores, grocers, insurance providers, tax preparers and many others. NetSpend currently serves more than 2.4 million accounts of which 46% are direct deposit.
The National Community Tax Coalition for community-based organizations for low-income working families, has selected NetSpend Holdings reloadable prepaid debit cards and related financial services to provide prepaid card services. NCTC’s 2,300 members provide free tax preparation service to low- and moderate-income, working families through more than 5,700 locations across the U.S. as part of the Volunteer Income Tax Assistance (VITA) program.
NetSpend Holdings, a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services, today announced that executives will be presenting a company overview at the William Blair 32nd Annual Growth Stock Conference at the Four Seasons Hotel in Chicago on June 13, 2012, at 8:00 a.m. Central Time. The presentation will be…
NetSpend Holdings forged distribution agreements to sell the NetSpend Visa Prepaid Debit Card at Family Dollar Stores locations nationwide. Family Dollar and NetSpend plan to make the prepaid cards available in more than 7,200 locations beginning in May. NetSpend is a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services to the estimated 60 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services.
NetSpend Holdings underbanked services launched “BenefitsExpress” private-labeled automated direct deposit enrollment management application engineered and powered by Prepaid Resources prepaid debit. This value-added functionality is designed to attract and manage cardholder direct deposit activity derived both on-line and through participating retail distributors. NetSpend plans to use “BenefitsExpress'” electronic enrollment to drive and retain greater direct deposit volume by closely managing each cardholder’s experience beginning with the acquisition and registration process and continuing through the life of their benefit entitlements, resulting in a cardholder with recurring direct deposit loads, increased card usage, longer account retention and greater satisfaction.
NetSpend underbanked services has forged marketing agreements with The
General Automobile Insurance Services. This lets the insurance agency
offer their customers a NetSpend prepaid debit card. NetSpend prepaid
debit cards let unbanked consumers pay their auto insurance premiums
electronically in the safety and security of their own home through
online bill pay. This eliminates the need for money orders or wire
transfers, fees from which they also avoid entirely.
SelectCore payment and transaction processor for the prepaid industry is deploying its “ReCash” ubiquitous cash reload network for prepaid stored-value cards. The “ReCash” platform offers consumers a secure way to load cash onto their reloadable prepaid Visa or MasterCard. Cardholders can purchase a ReCash Voucher with any dollar value up to $500 from a participating retail outlet. The funds can be transferred instantly to the customer’s card via text message, online, or toll-free phone number. The launch of ReCash is part of the Company’s growth strategy to expand into high-margin financial transaction processing.