The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced that it is the new issuer for the PayPal Debit MasterCard card.
The PayPal Debit MasterCard card can be used worldwide at ATMs, online, and everywhere Debit MasterCard is accepted. It also offers the possibility to earn 1 percent cash back whenever a cardholder is enrolled into the PayPal Preferred Rewards Program.
"We are thrilled to work with PayPal to bring the PayPal Debit MasterCard card to their 106 million active users," said Jeremy Kuiper, Managing Director - The Bancorp Payment Solutions Group. "Consumers want to be able to feel secure when shopping online with a debit card, and with PayPal's dedication to security, we're able to deliver a great solution with the PayPal Debit MasterCard card."
The PayPal Debit MasterCard card is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.
Separately, the Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced the formation of a new relationship with Swift Prepaid Solutions, a leading provider of incentive card solutions. Under the newly formed relationship, Bancorp will serve as the principal issuing bank for Swift's prepaid card programs.
"We are pleased to announce our relationship with Swift and believe that the strength and commitment of The Bancorp will be a great complement to the Swift product offerings."
"Bancorp is an ideal issuing bank for Swift. By aligning with Bancorp, we have chosen a partner that will greatly enhance Swift's prepaid programs," said Braven Imai, President and CEO of Swift.
"Swift Prepaid is a driving force in the loyalty, promotion and incentive card space and is at the forefront of prepaid innovation," said Jeremy Kuiper, Managing Director of Bancorp's Payment Solutions division. "We are pleased to announce our relationship with Swift and believe that the strength and commitment of The Bancorp will be a great complement to the Swift product offerings."