20 February 2018
visit www.nextgenbanking.co.uk/

InComm and NetSpen sign distribution agreement

17 December 2009  |  1517 views  |  0 Source: InComm

InComm, the leader in sales and marketing of prepaid products, and NetSpend, a leading provider of card-based prepaid financial products to underbanked consumers, today announced a distribution agreement that will give many of InComm's retail partner locations the opportunity to sell and reload the NetSpend general purpose reloadable debit card. InComm - the industry's largest retail distribution network - will further add to NetSpend's reload network of 93,000 locations.

"According to the FDIC, more than one quarter of all Americans are either unbanked or underbanked - that's 60 million people that either have minimal or no access to financial products," said Dan Henry, CEO of NetSpend. "This agreement with InComm will give these consumers an unprecedented level of convenience with thousands more locations to reload or purchase their NetSpend cards. Simply put, this gives them the ability to more easily and quickly manage their financial lives."

"We are excited to provide our product expertise and technological innovation to help offer consumers another opportunity to manage their finances - especially in this economy," said Brooks Smith, InComm President and CEO. "Partnering with NetSpend is an excellent opportunity that reinforces InComm's commitment to the prepaid industry. By continuing to add the most innovative products and solutions, InComm is able to capitalize on consumer demand to help establish retail partners as prepaid destinations - a partnership which also gives product partners access to the industry's largest distribution network of big box, pharmacy, grocery, convenience and discount retailers."

The agreement between InComm and NetSpend will begin immediately.

Prepaid debit cards offer a viable financial alternative for the underbanked and unbanked consumer. Designed as a convenient tool to help cardholders better manage their finances, a prepaid debit card allows only the amount that is pre-deposited on the card to be spent. This feature along with free balance inquiries via text alert and online budgeting tools helps NetSpend cardholders avoid paying their share of the billions of dollars in overdraft fees that traditional banks collect every year. With this most recent announcement, NetSpend cardholders will soon be able to reload their cards at the 93,000 current locations and at the participating InComm retailers. Cardholders also have access to online bill pay, free direct deposit, free card-to-card transfers and online budgeting and spending tools.

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukVisit www.vasco.comVisit http://info.nice.com

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
11826 views comments | 16 tweets | 12 linkedin
ABN Amro moves escrow accounts to the blockchainABN Amro moves escrow accounts to the bloc...
9506 views comments | 15 tweets | 13 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
9280 views 10 comments | 22 tweets | 26 linkedin
Coinbase and Visa at loggerheads over erroneous charges on customer crypto accountsCoinbase and Visa at loggerheads over erro...
8074 views comments | 13 tweets | 12 linkedin
FCA explores creation of global sandboxFCA explores creation of global sandbox
7352 views comments | 19 tweets | 18 linkedin

Featured job

Six-Figure-Base, Double OTE, Benefits Package
London, UK

Find your next job