AUSTIN, Texas and MATTHEWS, N.C., May 10, 2012 (GLOBE NEWSWIRE) -- In continuing to execute its retail expansion plans, NetSpend Holdings, Inc. (Nasdaq:NTSP) announced today that it has entered into a distribution agreement to sell the NetSpend Visa® Prepaid Debit Card at Family Dollar Stores, Inc. (NYSE:FDO) locations nationwide.
"This new partnership with Family Dollar is significant because it provides self-banked consumers with access to our products and services where they already go for their daily shopping needs," said Dan Henry, chief executive officer of NetSpend. "With this agreement, our retail distribution footprint will reach new heights to a total of more than 22,000 locations."
Family Dollar and NetSpend plan to make the prepaid cards available in more than 7,200 locations beginning this month.
"Responding to customer needs is essential to being a compelling place to shop," said Paul White, Family Dollar Executive Vice President - Chief Merchandising Officer. "We chose to sell the NetSpend Visa Prepaid Debit Card because of its strong brand and the features it offers. This gives our customers more options to choose from when buying a prepaid debit card."
The funds on the NetSpend Visa Prepaid Debit Card are FDIC insured through The Bancorp Bank; Member FDIC. It can be used everywhere Visa debit cards are accepted.
These cards are issued by The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq:TBBK), pursuant to licenses from Visa U.S.A. Inc. The Bancorp Bank; Member FDIC.
About NetSpend
NetSpend is a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services to the estimated 60 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services. The Company's mission is to develop products and services that empower underbanked consumers with the convenience, security and freedom to be self-banked. Headquartered in Austin, Texas, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP. Please visit http://www.netspend.com for more information.
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About Family Dollar Stores, Inc.
For more than 50 years, Family Dollar has been providing value and convenience to customers in easy-to-shop neighborhood locations. Family Dollar's mix of name brands, and quality, private brand merchandise, appeals to shoppers in more than 7,200 stores in rural and urban settings across 45 states. Helping families save on the items they need with everyday low prices creates a strong bond with customers who refer to their neighborhood store as "my Family Dollar." Headquartered in Matthews, North Carolina, just outside of Charlotte, Family Dollar is a Fortune 300, publicly held company with common stock traded on the New York Stock Exchange under the symbol FDO. For more information, please visit www.familydollar.com.
About The Bancorp Payment Solutions Group
The Bancorp Payment Solutions Group, a division of The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq:TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group contributes to the success of Fortune 500 companies through the development of cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the MasterCard, Visa, and Discover card associations, leading program managers and processors, The Bancorp Payment Solutions Group designs innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorp.com.