A Look at Growth in Prepaid at Meta Payment Systems

One of the leading network-branded prepaid card issuers in the US is Meta Payment Systems, a subsidiary of Meta Financial Group. MFG reported financial results for the first quarter 2009 earlier today - and included a business segment breakout report for MPS. MPS' results included quarterly net income of $3.5 million and revenue of $36.4 million, up 139% from the same quarter last year. MPG also reported the filing of eight patents during the quarter (three provisional and five non-provisional and international) and 32 patents since the inception of MPS relating to the addition of functionality and ancillary products to prepaid cards.