EZCORP and NetSpend Collaborate on Debit Card With Built-in Overdraft Protection
AUSTIN, Texas, July 24 /PRNewswire/ -- EZCORP, Inc. (Nasdaq: EZPW), an
Austin, Texas based provider of short-term consumer cash solutions, is
collaborating with NetSpend Corporation, one of the premier providers of
prepaid solutions in the United States, to make available its ALL-ACCESS(R)
MASTERCARD Prepaid Card to consumers at more than 390 EZMONEY loan services
stores across ten states.
NetSpend's All-Access MasterCard Prepaid Card allows customers to load
funds onto the card and use it wherever MasterCard debit cards are
accepted. A new overdraft protection feature allows customers, who make
direct deposits to the card, ongoing access to account overdraft protection
up to $300.
"We are dedicated to meeting the growing demand in the United States
for prepaid cards and to continue to provide innovative card features and
capabilities," said NetSpend CEO Rick Savard. "This relationship with
EZCORP marks another significant milestone in our ongoing efforts to
increase our reload network and expand our market presence."
As a result of the strategic partnership with NetSpend, EZCORP
consumers searching for prepaid products, or existing NetSpend customers
who need to reload their prepaid accounts, will enjoy new availability and
convenience.
"We developed this new card with NetSpend to allow us to provide our
customers additional convenience, flexibility, and peace-of-mind in their
day-to-day financial lives," said EZCORP CEO Joe Rotunda.
EZCORP is an Austin-based market leader in the specialty consumer
finance industry dedicated to satisfying the short-term cash needs of
consumers who find themselves both cash and credit constrained.
NetSpend All-Access MasterCard Prepaid Cards are issued by MetaBank,
pursuant to a license from MasterCard International Incorporated. MetaBank
member FDIC.
ABOUT NETSPEND
NetSpend Corporation is one of the premier providers of innovative,
accessible prepaid debit cards that enable financial freedom for
self-banked consumers. Grounded by a mission of financial empowerment,
NetSpend is committed to meeting its customers' financial services needs on
their terms while offering the convenience, security and acceptance of
conventional financial services. NetSpend's proprietary processing platform
allows it to support prepaid card programs end-to-end from customer
acquisition and card fulfillment to customer service and risk management.
The NetSpend(R) Prepaid Card Network includes leading consumer brands and
companies serving the un- banked and under-banked markets, and its
strategic relationships include card issuers, EFT networks and payment card
associations. For more information, visit http://www.netspend.com.
ABOUT EZCORP
EZCORP (Nasdaq: EZPW) is primarily a lender or provider of credit
services to individuals who do not have cash resources or access to credit
to meet their short-term cash needs. The Company offers non-recourse loans
collateralized by tangible personal property, commonly known as pawn loans,
in 295 U.S. and three Mexico EZPAWN locations open at June 30, 2007. At
these locations, the Company also sells merchandise, primarily collateral
forfeited from its pawn lending operations, to consumers looking for good
value. In 390 EZMONEY locations and 80 EZPAWN locations open at June 30,
2007, the Company offers short-term non-collateralized loans, often
referred to as payday loans, or fee based credit services to customers
seeking loans.
ABOUT METABANK
MetaBank is a federally chartered savings bank headquartered in Storm
Lake, Iowa. Meta Financial Group, Inc.(R) is the bank holding company for
MetaBank, MetaBank West Central, Meta Payment Systems(R), and Meta Trust
Company(R). The Meta Payment Systems division of MetaBank based in Sioux
Falls, South Dakota, serves banks, processors, and third party marketers by
providing prepaid cards, credit cards, ACH origination, merchant acquiring,
ATM sponsorship, and money transfer. Meta Financial Group is traded on the
NASDAQ-Global Market: CASH. For more information call 605.275.8052 or visit
http://www.metacash.com.
Contact:
Amy Shields or Meghan Butler
GCI Read-Poland for NetSpend Corporation
ashields@gcigroup.com or mbutler@gcigroup.com
(512) 472-4122
SOURCE NetSpend Corporation
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