AUSTIN, Texas–(BUSINESS WIRE)–NetSpend, a TSYS Company (NYSE: TSS) and arch provider of prepaid cards and accompanying cyberbanking services, today appear it has aing armament with Western Union (NYSE:WU) to advance an avant-garde co-branded prepaid card, accessible after this year.
“Combining the strengths of Western Union’s all-around cast and ability in affective money with NetSpend’s abysmal prepaid ability and different artefact capabilities, creates an absurd befalling for us to bigger serve an underserved market,” said Dan Henry, arch controlling administrator of NetSpend. “Our two companies allotment a charge to giving barter added and bigger choices for managing their money.”
According to the Centermost for Cyberbanking Casework Innovation (CFSI), about 68 actor Americans are financially underserved or abridgement admission to acceptable forms of banking. Many of these consumers are axis to prepaid cards to spend, save and administer their money — the FDIC estimates that from 2009 to 2011, the allotment of unbanked households that acclimated a prepaid agenda climbed from 12 percent to about 18 percent.
NetSpend and Western Union will accordingly advance the co-branded card’s custom appearance through NetSpend’s proprietary, absolutely chip payments platform, and plan to bear the agenda through a allocation of their accumulated administration networks after this year. NetSpend maintains an all-encompassing arrangement of 70,000 administration locations and 130,000 reload points. Western Union offers its casework in the U.S. through a arrangement that includes banks, civic retail and grocery chains and absolute locations.
Details on agenda pricing, appearance and availability will chase at the artefact launch.
NetSpend is a arch provider of general-purpose reloadable prepaid debit cards and accompanying cyberbanking casework to the estimated 68 actor underbanked consumers in the United States who do not accept a acceptable coffer annual or who await on another cyberbanking services. The Company’s mission is to advance articles and casework that empower underbanked consumers with the convenience, aegis and abandon to be self-banked. Headquartered in Austin, Texas, NetSpend is a wholly endemic accessory of TSYS (NYSE: TSS). For added information, amuse appointment www.netspend.com, or chase NetSpend on Cheep at twitter.com/netspend or on Facebook at www.facebook.com/netspend.
At TSYS® (NYSE: TSS), we accept payments should circumduct about people, not the added way around. We alarm this accepting “People-Centered Payments®.” By putting bodies at the centermost of every accommodation we make, TSYS supports cyberbanking institutions, businesses and governments in added than 80 countries. Through NetSpend®, A TSYS Company, we empower consumers with the convenience, security, and abandon to be self-banked. TSYS offers issuer casework and merchant acquittal accepting for credit, debit, prepaid, healthcare and business solutions.
TSYS’ address are amid in Columbus, Ga., U.S.A., with bounded offices advance beyond the Americas, EMEA and Asia-Pacific. TSYS is a affiliate of The Civic 50 and has been called one of the 2013 World’s Most Ethical Companies by Ethisphere magazine. TSYS commonly posts all important advice on its website. For more, amuse appointment us at www.tsys.com.
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