The highly-customizable Select Mobile Money mobile app offers a variety of services that help card users to manage their prepaid cards and personal funds easily, including account management, transaction history, card-to-card transfer, check-to-card loading with immediate good funds option, and other convenient services. Location-based technology allows users to easily pinpoint nearby reload locations and ATMs, as well as access a national mobile coupon network with local deals. The app also features fingerprint ID, home screen balance preview, and the ability for users to personalize the app with a selfie or avatar."In today's mobile society, consumers expect mobile access to financial services, and apps that are easy to use and personalize," continued Mack. "For prepaid card program managers, the convenience and advanced functionality of Select Mobile Money helps extend the life of a prepaid card, and allows for stickier, more profitable customer relationships." Prepaid Card Quick Facts
- Nearly 1 in 4 U.S. consumers own a reloadable prepaid card¹
- Millennials (age 18-32) and Gen Xers (age 33-48) account for 80% of prepaid card owners 2
- 27% of prepaid users earn more than $100,000 per year 2
- 22% of the unbanked have used a prepaid card in the last 12 months 3
- Proportion of households that used a prepaid card in the past 12 months increased from 7.9% to 9.8%, with growth across all socioeconomic and demographic groups 4
Forward-Looking StatementsThis press release contains certain statements that would be deemed "forward-looking statements" under Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1933 and includes, among other things, discussions of our business strategies, future operations and capital resources. Words such as "may," "likely," "anticipate," "expect" and "believes" indicate forward-looking statements.These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Forward-looking statements reflect our current views with respect to future events, are based on assumptions and are subject to risks and uncertainties. We discuss many of these risks in greater detail in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, filed with the Securities and Exchange Commission on April 14, 2016, under the heading "Risk Factors" and in the other reports we file with the Commission. You are cautioned not to place undue reliance on these forward-looking statements. Also, forward-looking statements represent our estimates and assumptions only as of the date of this press release. Except as required by law, we assume no obligation to update any forward-looking statements publicly, or to update the reasons actual results could differ materially from those anticipated in any forward-looking statements, even if new information becomes available in the future. TrademarksAll trademarks, service marks, and registered marks are the properties of their respective owners.
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