NetSpend and 7-Eleven ink pre-paid card distribution deal

Source: NetSpend

NetSpend Holdings (Nasdaq:NTSP), a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services, today announced that it has entered into a distribution agreement to sell its NetSpend Visa prepaid cards at 7-Eleven, Inc.'s participating franchised and company-operated stores nationwide.

7-Eleven is the premier name and largest chain in the convenience retailing industry.

"Our partnership with 7-Eleven is very important to NetSpend as this agreement positions us to significantly grow our retail footprint," said Dan Henry, chief executive officer of NetSpend. "In many 7-Eleven stores now, our GPR cards give consumers more choice and access to alternative banking solutions."

In a recent announcement, NetSpend said it also is expanding its reload network to thousands of 7-Eleven locations across the U.S. "The combination of selling our GPR cards and expanding our reload network at 7-Eleven stores gives self-banked consumers an easier way to take care of their financial services needs outside of the traditional, normal banking hours and at locations that are more convenient to them," added Henry.

"We believe offering NetSpend prepaid cards is an ideal solution for our customers who want convenient financial services when they come to our stores," said Jesus Delgado-Jenkins, 7-Eleven's senior vice president for merchandising, marketing and logistics. "We are rolling out the NetSpend prepaid cards now and expect to be selling them in more than 5,000 stores this year." 

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