NetSpend(R) and QC Financial Enter Agreement for Prepaid Debit Cards
09 Juni 2008 - 6:55PM
PR Newswire (US)
Payday Loan Distribution Channel Expands With More Than 400 New
Locations AUSTIN, Texas, June 9 /PRNewswire/ -- NetSpend
Corporation, one of the premier providers of prepaid solutions in
the United States, has entered into an agreement with QC Financial
for a prepaid debit card program. With more than 23 years of
operating experience in the retail consumer finance industry, QC is
a leading provider of payday loans in the United States. The
prepaid reloadable debit cards will be available at nearly 90
percent of QC's 596 locations across 24 states. "NetSpend is
thrilled that QC Financial has selected to work with us on their
first prepaid card program," said NetSpend Chief Executive Officer
Daniel R. Henry. "Our processing platform allows us to develop
ground breaking products that will now be available for QC's
customers." "We chose to work with NetSpend because of their
expertise with prepaid products and their leadership in the
marketplace," said QC President Darrin Andersen. "NetSpend has
proven itself to be a preferred partner for payday loan companies
and we look forward to extending these cards to our customers." The
cards will be issued by MetaBank, member FDIC. About NetSpend
Corporation NetSpend Corporation is one of the premier providers of
innovative, accessible prepaid debit cards that enable financial
freedom for under-banked consumers. Grounded by a mission of
financial empowerment, NetSpend is committed to meeting its
customers' financial services needs on their terms while offering
the convenience, security and acceptance of conventional financial
services. NetSpend's proprietary processing platform allows it to
support prepaid card programs end-to-end from customer acquisition
and card fulfillment to customer service and risk management. The
NetSpend(R) Prepaid Card Network includes leading consumer brands
and companies serving the un- banked and under-banked markets, and
its strategic relationships include card issuers, EFT networks and
payment card associations. For more information, visit
http://www.netspend.com/. About QC Holdings, Inc. Headquartered in
Overland Park, Kansas, QC Holdings, Inc. is a leading provider of
payday loans in the United States, operating 596 branches in 24
states at December 31, 2007. With more than 23 years of operating
experience in the retail consumer finance industry, the company
entered the payday loan market in 1992 and, since 1998, has grown
from 48 branches to 596 branches through a combination of de novo
branches and acquisitions. During fiscal 2007, the company advanced
approximately $1.3 billion to customers through payday loans and
reported total revenues of $213.6 million. About MetaBank MetaBank
is a federally-chartered savings bank headquartered in Storm Lake,
Iowa. Meta Financial Group, Inc.(R) is the bank holding company for
MetaBank, MetaBank West Central, Meta Payment Systems(R), and Meta
Trust Company(R). The Meta Payment Systems division of MetaBank
based in Sioux Falls, South Dakota, serves banks, processors, and
third party marketers by providing prepaid cards, credit cards, ACH
origination, merchant acquiring, ATM sponsorship, and money
transfer. Meta Financial Group is traded on the NASDAQ -- Global
Market: CASH. For more information call 605.275.8052 or visit
http://www.metacash.com/. Contact: Meghan Butler GCI Read-Poland
for NetSpend Corporation (512) 472-4122 DATASOURCE: NetSpend
Corporation CONTACT: Meghan Butler of GCI Read-Poland,
+1-512-472-4122, for NetSpend Corporation Web site:
http://www.netspend.com/ http://www.metacash.com/
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