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NetSpend

Welcome to the News View for "NetSpend".

Here, on these archive pages, you'll find all of the articles on Payments News for NetSpend listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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February 21, 2008

NetSpend, Advance America Announce Distribution Agreement

NetSpend and Advance America have announced an agreement "that makes prepaid, reloadable debit cards and gift cards available at just over 2,600 Cash Advance Centers across 35 states. Advance America, the country's leading provider of payday cash advance services, now makes prepaid cards a key component of its current suite of services in the United States."

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February 06, 2008

NetSpend Names New CEO - Dan Henry

Daniel R. Henry has been named Chief Executive Officer of NetSpend Corporation. Henry already is a member of the company's board of directors. Henry succeeds Richard J. Savard, who had served as CEO since June of 2004.

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November 19, 2007

Capital One, NetSpend Terminate Acquisition Agreement

Capital One and NetSpend have announced that "they have mutually agreed to the termination of their previously announced acquisition agreement and that they have entered into a Letter of Intent to expand their existing strategic relationship. As part of the expanded strategic relationship, Capital One intends to acquire a minority interest in NetSpend, a leading retail marketer of prepaid debit cards, along with an option to purchase additional shares of the company. In addition, the parties expect that a Capital One representative will join the NetSpend Board of Directors."

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August 07, 2007

Capital One Acquires NetSpend for $700 MM

Capital One has announced that it has entered into a definitive agreement to acquire NetSpend Holdings, Inc., the parent company of NetSpend Corporation, a retail marketer of prepaid debit cards, for $700 million in an all-cash transaction.

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June 07, 2007

NetSpend's Natonal Saving Program

Financial Services Centers of America (FiSCA), a trade association representing more than 6,500 neighborhood financial service providers, has announced that more than 63,000 FiSCA customers have opened savings accounts through the NetSpend National Saving Program. This savings program offers an interest-bearing, federally-insured savings account linked to a NetSpend prepaid Visa/MasterCard debit card.

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May 03, 2007

TIO Networks Launches Prepaid Cards at Exxon, Mobil Convenience Stores

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.

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October 30, 2006

Debit Card Saving Rate Beats Checking Account

Mary Wisniewski, Business Reporter for the Chicago Sun-Times, takes a look at Netspend's All-Access National Savings Program, which has begun paying 3 percent on deposits, more than double the average rate currently paid by banks on consumer checking accounts.

August 23, 2006

Visa TravelMoney Cards Now Available At Safeway Stores

Visa USA has announced that Visa TravelMoney cards will now be available in more than 1,550 Safeway store locations nationwide, including participating Safeway, Carrs, Dominick's, Genuardi's, Pak 'n Save, Pavilions, Randalls, Vons, and Tom Thumb stores. NetSpend will market the reloadable prepaid travel cards and process transactions for the issuer, Inter National Bank.

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July 31, 2006

Virgin Mobile USA Launches Prepaid Visa Debit Card With NetSpend

Virgin Mobile USA has announced the launch of the Virgin Mobile "Stash" Prepaid Visa Debit Card issued by Inter National Bank. The new prepaid debit card is linked to a Virgin Mobile phone, allowing users to earn free airtime. The extended offering of features includes peer-to-peer money transfers and wireless text alerts to manage spending and prevent fraud, as well as online account management and a savings program. Be sure to see the fee structure on this card - both "by-the-month" and "by-the-stripe" options are provided.

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June 19, 2006

A Look At NetSpend

Lori Hawkins writes for the Austin American-Stateman about NetSpend, one of the fastest-growing prepaid-card companies. According to Hawkins, NetSpend's cards are "sold at about 10,000 convenience stores, gas stations and check-cashing centers. The privately held company says it has 225 employees and annual revenue in the $75 million to $125 million range. It has been profitable the past two years, officials say."

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