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MoneyGram Partners with NetSpend for Prepaid Card Reloading

MoneyGram and NetSpend have announced an agreement that will enable NetSpend prepaid debit card holders to be able to load value to their cards in a real-time, single-step transaction at any of the 40,000 MoneyGram ExpressPayment agent locations nationwide. According to the two companies, the agreement brings the number of locations that NetSpend customers can reload their prepaid debit cards to approximately 90,000.

“Convenience is very important to our customers. Their time is valuable and the ability to choose how they reload their NetSpend card—whether online or through the thousands of reload centers—gives them unprecedented control and freedom,” said Dan Henry, chief executive officer of NetSpend. “MoneyGram brings the convenience of the NetSpend card to a completely new level and is a welcome partner for our millions of cardholders.”

Anthony Ryan, president and chief executive officer of MoneyGram International, said: “This strategic partnership with NetSpend broadens our presence in the key prepaid market by opening the MoneyGram reload network to one of the largest prepaid card providers in the industry. We continue to provide control and choice to consumers with our urgent bill payment product and real-time prepaid card load capabilities.”

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A single-step process is important for adoption because the MoneyGram loading process is confusing to customers and clerks. This seems like a step forward for both companies.

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