Western Union has launched a new Visa prepaid gift card and greeting card offering enabling consumers to send the gift of money using Western Union branded prepaid gift cards available at http://www.WesternUnion.com. READ MORE

Meta Financial Group has reported its financial results for its third fiscal quarter of 2009. Included are the results of its Meta Payment Systems business unit, one of largest prepaid card issuers in the US. MPS quarterly revenue grew by 68%, up from $10.3 million in fiscal 2008 to $17.4 million in 2009. Non-interest income for the quarter more than doubled from $7.6 million in fiscal 2008 to $15.7 million, or 107%, in 2009. MPS said the growth in non-interest income was spread among its prepaid and credit programs.

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.

In today's Deal of the Day column on SmartMoney.com, Lisa Scherzer writes about "The Pitfalls of Prepaid Cards" - noting that "Prepaid cards may not come with the sky high late-payment fees or APRs of traditional credit cards, but they do carry a slew of other charges." She goes on to recommend four network-branded prepaid cards "whose fees are a little more palatable than others" - including two from MetaBank, the Wal-Mart Money Card issued by GE Money, and the new Current Debit Card by Discover.

Meta Payment Systems has announced it has contracted with Fiserv and TransUnion "to enhance the next generation of its award-winning iAdvance product. The partnerships enable Meta to expand its short-term, small dollar loan alternative that is accessed immediately on a MetaBank-issued prepaid card." READ MORE

Springbok Services and Visa have announced an agreement that enables Springbok to offer Visa-branded prepaid card programs. According to Springbok, "the addition of the Visa brand allows Springbok to pass along Visa-specific advantages to its clients, which use Springbok prepaid cards for reward, incentive, promotion and rebate programs. Springbok prepaid card programs are designed to positively motivate behavior and enhance loyalty among corporate employees and/or their customers." READ MORE

AAA has announced it has enhanced its prepaid card products using Visa Inc. and MetaBank as key program partners. The new AAA Visa TravelMoney card and Visa Gift card are now available at participating AAA locations across the country. READ MORE

Meta Payments Systems has announced "the iAdvance Line of Credit for the millions of Americans who are unable to access affordable, small dollar credit."

Fintura Corporation has announced the GreenPay MasterCard credit card - calling it "a new eco-friendly rewards credit card in the United States where the reward proposition goes directly toward the purchase and retirement of carbon credit offsets. The GreenPay MasterCard enables conservation-minded consumers to fight global warming with every card purchase." The card is issued by MetaBank.

Parago, a provider of rebate, incentive and promotion solutions, has announced "FSV Payment Systems has been selected as a strategic partner for prepaid services. In the newly formed partnership, FSV Payment Systems will manage prepaid card processing while their partner, Meta Payment Systems will provide issuing bank services."

ExxonMobil, along with TIO Networks Corporation and NetSpend Corporation, has announced the launch of the TIO Prepaid MasterCard at participating Exxon and Mobil convenience store locations across the United States. The card is issued by MetaBank.

We have received news of the following recent management changes:

• Scott Galit has
  been named Executive Vice President of the Meta Payment Systems unit at Meta Financial Group. According to Meta, "Galit is a pioneer in the prepaid card industry and most recently was Senior Vice President of Global Prepaid Products at MasterCard Worldwide. Prior to joining MasterCard, Scott was SVP and GM of First Data Prepaid Solutions."

Erika Hayasaki writes for the Los Angeles Times about the Sigo card - a prepaid MasterCard debit card designed for immigrants. Sigo cards are Issued by MetaBank and marketed by IDT Stored Value Services. More information about Sigo is available on their website.

In an article titled 'Immigrants Wary of Banks Put Faith in New Card", Steven Greenhouse writes for the New York Times about SiGo, a prepaid MasterCard debit card issued by MetaBank and distributed by IDT Stored Value Systems. Greenhouse reports that cards are an "ideal tool for 30 million workers, both foreign-born and native, who lack bank accounts and often face high check-cashing fees and frustrating obstacles in paying bills."

Visa USA has announced "the launch of its first contactless prepaid cards, providing consumers a faster and more convenient way to pay and offering merchants increased revenue opportunities, increased throughput and improved customer loyalty. MetaBank will be the first financial institution to issue the cards."

PAYjr, a free online money management system for teens, has announced it is now offering a prepaid MasterCard card, issued by MetaBank, as a companion to their online PAYjr service that helps parents teach their teenagers how to manage their allowance and develop better spending habits.

Catwalk Distribution in partnership with Trycera Financial, has announced the Model Prepaid MasterCard, a "full service financial tool designed to help professional and aspiring models and actors manage their finances smarter, faster and safer than ever before."