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TheStreet Open House

PayPal Prepaid MasterCard Now Available At Dollar General

AUSTIN, Texas and GOODLETTSVILLE, Tenn., Aug. 21, 2012 (GLOBE NEWSWIRE) -- NetSpend Holdings, Inc. (Nasdaq:NTSP) and Dollar General (NYSE:DG) announced today its agreement to sell the PayPal Prepaid MasterCard ® card at Dollar General locations across the United States.  

"Dollar General is committed to offering our customers a diverse product assortment," said Todd Vasos, Dollar General's EVP, division president and chief merchandising officer. "The PayPal Prepaid MasterCard is a feature-rich, alternative banking solution that we are proud to feature in our stores."

The PayPal Prepaid MasterCard card will be available at more than 8,000 Dollar General stores in 40 states upon full rollout of the product this year. Cardholders also can reload cash on their PayPal and NetSpend prepaid cards at these locations via the InComm Vanilla Reload Network.

"Dollar General is a significant new partner for NetSpend as we continue to grow our retail presence through our partnership with InComm," said Dan Henry, chief executive officer of NetSpend. "Our retail distribution footprint will grow to a total of more than 25,000 locations once Dollar General is fully deployed with the PayPal prepaid card. Our expanding retail distribution provides convenient access to our products for the self-banked consumer."

"InComm is excited to partner with PayPal, NetSpend and Dollar General to deliver an innovative prepaid financial services solution to Dollar General customers," said Brooks Smith, chief executive officer of InComm. "We look forward to the growth of this product and the awareness it will bring to the category."

The PayPal Prepaid MasterCard card can be used for online and in-store purchases wherever debit MasterCard is accepted. The card can also be used to withdraw cash from ATMs while money can be loaded onto the card through direct deposit or at more than 130,000 reload locations through the U.S. 

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