AUSTIN, Texas, Feb. 4, 2011 (GLOBE NEWSWIRE) -- NetSpend (Nasdaq:NTSP), a leading provider of general purpose reloadable prepaid debit cards and related financial services to underbanked consumers in the United States, today announced that the company is launching NetSpend Payback Rewards™—a cardholder rewards program—in partnership with Cardlytics, the pioneer of transaction marketing in banking. The free program will be available in the first quarter of 2011 and will feature targeted offers from approximately 100 national retailers that will be automatically available to eligible NetSpend cardholders in their online account center. This feature will provide these cardholders an innovative way to save when spending money on everyday purchases.
NetSpend cardholders will receive NetSpend Payback Rewards™ offers by logging in to their online account center at NetSpend.com, where they can view merchant offers and click on those they choose to accept. The offer is then redeemed by using the NetSpend card at the participating merchant. The rewards are accumulated and credited to the eligible cardholder account the following month.
The NetSpend Payback Rewards™ program benefits not only cardholders, but the merchants and NetSpend as well. NetSpend is able to drive cardholder retention and loyalty and merchants are able to reach consumers who have demonstrated an interest in related products through their previous buying behaviors.
"NetSpend Payback Rewards™ is another great feature for our cardholders and complements our other products including free online P2P money transfer, free life insurance, free direct deposit and a savings account that offers five percent interest—currently one of the highest rates in the nation," said Dan Henry, chief executive officer at NetSpend. "The speed we were able to deliver this innovative solution is indicative of the value and flexibility inherent in our proprietary processing platform."
About NetSpend
NetSpend Corporation 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 unbanked consumers with the convenience, security and freedom to be self-banked. Headquartered in Austin, TX, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP.
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