Meta Payment Systems Announces Partnership with Netspend Corporation Bank becomes issuing partner for prepaid card industry pioneer

Today in Sioux Falls, Meta Payment Systems (“MPS”), a division of MetaBank that implements payment systems for a wide variety of companies, announced a partnership with NetSpend Corporation, the nation’s leading marketer and processor of prepaid debit cards serving the un-and under-banked markets. Under the partnership, MetaBank will be the issuing bank for select NetSpend prepaid debit card programs.

Of the agreement, which was signed on March 22, MPS President Brad Hanson said “It is a pleasure to be working with such a leader and recognized name in the prepaid industry. At MPS, we are constantly looking for quality partnerships to grow our business. And, it doesn’t get better than NetSpend. Given our interest in prepaid, and to capitalize on the many growing opportunities, we looked for a partner that has the experience, team, and vision to deliver successful prepaid programs to market,” Hanson added.

“MetaBank shares our commitment and vision for delivering financial solutions that empower the un- and under-banked markets,” said Steve Reesing, NetSpend’s Chief Financial Officer, “we are pleased to include MetaBank as part of our select group of strategic partners.”

About Meta Payment Systems

Meta Payment Systems, a division of MetaBank, offers card issuing and program support to banks, processors, and third-party distributors seeking to develop, market and manage stored-value cards. Meta Financial Group, Inc. (NASDAQ NM: CASH) is the holding company for MetaBank. For more information, call (605) 275-8052, or visit http://www.metacash.com.


About NetSpend Corporation

Austin, Texas-based NetSpend Corporation is the proven leader for prepaid stored value platforms, offering an end-to-end approach that is unique in the prepaid payments industry. From customer acquisition and communication, retention, distributor integration and training, card fulfillment, portfolio and risk management, regulatory compliance, and world-class customer service, NetSpend offers a complete, end-to-end, vertically integrated product offering that powers the infrastructure for prepaid payment applications. NetSpend’s partnerships include agency agreements with the leading companies serving the un-banked and under-banked markets, as well as strategic relationships with card issuers, EFT and payment card associations. For more information, go to www.netspend.com.

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