FSV Payment Systems, Meta Partner with Parago

This announcement is a pivotal step as Parago continues to expand its prepaid and promotional services solution offerings. This strategic decision will allow Parago to offer their clients an integrated, one-stop solution for comprehensive rebate, incentive and promotional programs.

"After completing a rigorous selection process, we are confident that our selection of FSV Payment Systems and their partner, Meta Payment Systems, has created an unmatched partnership of strengths for prepaid card services," said Juli Spottiswood, president and CEO of Parago, Inc. and Board Member and Treasurer of the Network Branded Prepaid Card Association (NBPCA). "FSV has the caliber of experience, commitment and service levels as well as advanced technology and operational processes that mirrors the quality that Parago provides its customers."

FSV's leadership team, headed by Jon Palmer, CEO, has hundreds of years of cumulative experience in financial services and electronic payments. At FSV, prepaid cards are viewed as an extended marketing opportunity versus simply payment vehicles. According to Spottiswood, the selection of FSV was based on their partnership approach, experience in delivering highly customized prepaid programs, the robustness of their technology platform, and their commitment to innovation in the prepaid industry.

"We are delighted to have been selected by Parago to be their processing partner," said Jon Palmer, CEO of FSV Payment Systems. "We share Parago's commitment to client and cardholder service and we look forward to helping Parago use FSV's robust prepaid card processing capabilities to create new and exciting rebate and incentive offers for Parago clients."

In addition to their years of industry experience, FSV Payment Systems brings a solid relationship with Meta Payment Systems, who will be providing issuing bank services for Parago's prepaid card programs. Meta Payment Systems is the leading issuer of prepaid Visa, MasterCard, and Discover cards.

"We are thrilled that FSV Payment Systems has been selected to be Parago's processing partner. Parago has been extremely active in working to move the rebate and promotions industry from checks to prepaid cards and we look forward to supporting FSV as they help Parago capitalize on that effort," said Brad Hanson, President of Meta Payment Systems.

To reinforce its commitment to the prepaid space, Parago has also announced Matt Kerper as Vice President of Prepaid Services. Matt joins Parago from Trycera Financial, where he was president and CEO. With over ten years in the prepaid market, Matt has developed extensive industry relationships with various associations, issuing banks, and processors. He brings solid, first-hand experience in the development, deployment and management of major network branded prepaid programs from both Trycera Financial, a premier Stored Value Program Management firm and Green Dot, a leading provider of retail based financial services for the underserved community.