The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank (“Bancorp”), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), today announced that it has begun issuing prepaid cards with NetSpend, a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services.
The two companies are proud to announce card programs for 7-Eleven, HEB Grocery Stores and PayPal. These three programs have launched in the past six months and have been very well received in the market. "Our partnerships with issuing banks are very important to us," said Dan Henry, chief executive officer of NetSpend. "Our relationship with Bancorp has been essential for these new product launches. We look forward to an ongoing partnership with them.”
For Bancorp, the agreement with NetSpend offers yet another avenue for consumers to gain exceptional access to cards issued by Bancorp. “We are thrilled about our relationship with NetSpend. We can now offer Bancorp solutions to an even wider array of consumers in search of prepaid products. NetSpend is committed to providing the most innovative solutions to its prepaid cardholders and we are excited to align with them in this endeavor,” said Jeremy Kuiper, managing director – The Bancorp Payment Solutions Group.
The NetSpend Visa Prepaid Debit Card and NetSpend H-E-B Visa Prepaid Debit Card are issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc. The PayPal Prepaid MasterCard ® card is issued by The Bancorp Bank pursuant to license from MasterCard International Incorporated. The Bancorp Bank; Member FDIC. MasterCard is a registered trademark of MasterCard International Incorporated.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.