This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Brink's To Launch Branded Prepaid Payroll Card

RICHMOND, Va. and AUSTIN, Texas, Jan. 8, 2013 /PRNewswire/ -- The Brink's Company (NYSE: BCO), a global leader in secure logistics, today announced that it has entered into an agreement with NetSpend Holdings, Inc. (NASDAQ: NTSP), to sell its Brink's Money™ prepaid payroll card to U.S. employers.  The initial rollout of Brink's Money is scheduled for the first quarter of 2013.

(Photo:  http://photos.prnewswire.com/prnh/20130108/PH38507 )

Brink's Money is a safe, feature-rich alternative for employees who receive paper checks from their employers.  NetSpend, a leading provider of general-purpose reloadable prepaid debit cards and related financial services, will act as the exclusive program manager and processor for the Brink's Money payroll card. 

Tom Schievelbein, chairman, president and chief executive officer of Brink's, said: "The introduction of Brink's Money is our latest initiative aimed at growing our payments business.  Our partnership with NetSpend is a natural fit that enables us to leverage the Brink's brand in the U.S. consumer market, where it is already a well-known symbol of trust and security due to our leadership in secure logistics and our past success in residential security.  Our plan to provide the Brink's Money card to our own employees demonstrates our commitment to this product."   

The market for prepaid payroll cards in the U.S. is growing at a rapid pace, according to a recent report from Aite Group. "The prepaid payroll market is expected to have a year-over-year annual compound growth rate of 19.9 percent through 2016.  Gross dollar volumes loaded on cards will almost double from the 2012 level of $34 billion to an estimated $63 billion in 2016.  And, the number of active cards in the market is expected to grow from 4.1 million in 2012 to over 9.1 million in 2016," said Madeline K. Aufseeser, author of Aite Group's 2012 report titled "The Contenders: Prepaid Debit and Payroll Cards Reach Ubiquity."

Dan Henry, chief executive officer of NetSpend, said: "Brink's has a longstanding history of providing individuals and businesses with a safe and convenient way to manage cash and other assets.  For self-banked consumers, brand awareness and trust are key considerations in financial decision-making.  Brink's is an ideal partner to help us reach more employers with payroll card solutions."

About The Brink's Company The Brink's Company (NYSE: BCO) is the world's premier provider of secure transportation and cash management services.  For more information, please visit The Brink's Company website at www.Brinks.com or call 804-289-9709.

About NetSpend NetSpend is a leading provider of general-purpose reloadable prepaid debit cards and related financial services to the estimated 68 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, TX, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP.  Please visit http://www.netspend.com for more information.

Follow NetSpend on Twitter:  http://twitter.com/netspend or Facebook:  http://www.facebook.com/netspend

Contact:

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,288.63 +155.93 0.86%
S&P 500 2,117.39 +12.89 0.61%
NASDAQ 5,008.0960 +44.5690 0.90%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs