NetSpend activates PayPal pre-paid MasterCard

Source: NetSpend

NetSpend Holdings, Inc. (Nasdaq:NTSP), a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services, today announced the launch of the PayPal Prepaid MasterCard(R).

"PayPal has chosen us to be the exclusive program and distribution manager and processor for their GPR card," said Dan Henry, chief executive officer of NetSpend. "We are marketing the PayPal prepaid card online and through our direct mail channels. Through this relationship, we are able to offer the prepaid card to PayPal's 106 million active users."

The PayPal Prepaid MasterCard must be linked to a PayPal account to enable cardholders to have full access to the card's online functionality and features. Offline, the card can be used to withdraw cash from ATMs while money can be loaded onto the card through direct deposit or at more than 100,000 reload locations throughout the U.S. The PayPal prepaid card is competitively priced and offers many features including online Payback Rewards, an optional savings account, real-time account alerts via text message* and online budgeting tools. The PayPal prepaid card can be ordered online at www.paypal.com/prepaid.

"The PayPal Prepaid MasterCard brings PayPal customers even more financial flexibility and choice for both online and brick-and-mortar purchases," said Don Kingsborough, vice president and general manager of retail and prepaid at PayPal.

This card is issued by The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq:TBBK - News), pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.

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