Brink’s Delivers Peace of Mind to Consumers
Seeking Security, Stability and Convenience
Brink’s Global Payments, LLC, in partnership with NetSpend, a
TSYS company (NYSE: TSS), and prepaid provider of choice to
self-banked consumers and the brands that serve them, today
announced the launch of the Brink’s Prepaid MasterCard® issued by
BofI Federal Bank. The Brink’s prepaid card appeals to consumers
seeking peace of mind from a secure and stable money management
solution. Consumers using the Brink’s card have access to many
convenient and flexible features to accommodate their busy,
on-the-go lives, including direct deposit up to 2 days faster1,
24/7 access to their account with an online account center and
smartphone apps, virtual cards for online shopping and free online
money transfers to other cardholders.
“We are excited about the opportunity to provide consumers with
a prepaid card from Brink’s, a name that’s synonymous with trust
and security. We’ve piloted our card with consumers across the U.S.
over the past nine months and have seen strong demand, confirming
the value of our product as well as our brand equity in the
consumer space,” said Tom Schievelbein, chairman, president and
chief executive officer of Brink’s, Inc. “We are eager to partner
with NetSpend and MasterCard in this full commercial launch so that
we can realize our vision of becoming the general purpose
reloadable product of choice for underbanked families throughout
America.”
The move by Brink’s into general purpose reloadable prepaid
cards is the company’s latest push in the North American consumer
payments market and brings a respected and familiar consumer brand
to a high-growth market. Rates of prepaid card ownership jumped
from one in five in 2012 to one in four in 2013 among respondents
to an annual online survey conducted by the Federal Reserve Bank of
Philadelphia2.
“Prepaid customers are savvy, and they are looking for
established, trusted brands they know will deliver the features,
experience and value they need in a bank alternative,” said Chuck
Harris, president of NetSpend. “We are thrilled to deliver this
valuable offering to consumers under our partnership.”
“Prepaid cards empower those without traditional banking
relationships by equipping them with the tools, resources and
education to take control of their financial lives and spend
responsibly,” said Jeff Feuerstein, group head, U.S. Prepaid,
MasterCard. “Access to reputable prepaid offerings from trusted
brands such as Brink’s provide cardholders the opportunity to take
advantage of all the benefits of electronic payments, including
having a secure and convenient means of making purchases, tracking
spending, setting budgets and more.”
NetSpend is the exclusive program manager and processor for the
Brink’s prepaid card, issued by BofI Federal Bank, Member FDIC.
The new Brink’s Prepaid MasterCard® is now available at
www.brinksprepaidmastercard.com.
1 Faster access to funds is based on comparison of NetSpend’s
immediate availability policy versus the typical banking practice
of posting funds only after settlement. Direct deposit and faster
direct deposit capability is subject to payor’s support of the
feature and timing of payor’s funding.
2 Federal Reserve Bank of Philadelphia, “Millennials with Money:
A New Look at Who Uses GPR Prepaid Cards,” Susan Herbst-Murphy and
Greg Weed, September 2014
(http://www.phil.frb.org/consumer-credit-and-payments/payment-cards-center/publications/discussion-papers/2014/D-2014-Millennials.pdf)
About The Brink’s Company
The Brink’s Company (NYSE:BCO) is the world’s premier provider
of secure transportation and cash management services. For more
information, please visit The Brink’s Company website at
www.Brinks.com or call 804-289-9709.
About NetSpend, a TSYS Company
NetSpend is the prepaid provider of choice to self-banked
consumers and the brands that serve them. With a mission to empower
consumers with the convenience, security and freedom to be
self-banked, NetSpend’s products have helped over 10 million
consumers spend, budget and pay bills since 1999. Consumers can
reload and find NetSpend Prepaid Cards at convenient locations
nationwide through NetSpend’s extensive network of 130,000 reload
points and more than 85,000 distributing locations and employers,
including check cashers, convenience stores, grocers, pharmacies,
insurance providers and tax preparers. Headquartered in Austin,
Texas, NetSpend is a wholly owned subsidiary of TSYS (NYSE: TSS).
For more information, please visit www.netspend.com, or follow
NetSpend on Twitter at twitter.com/NetSpend or on Facebook at
facebook.com/NetSpend.
About BofI Federal Bank
BofI Holding, Inc. (NASDAQ: BOFI) is the holding company for
BofI Federal Bank, a nationwide bank that provides financing for
single and multifamily residential properties, small-to-medium size
businesses in target sectors, and selected specialty finance
receivables. With approximately $5.2 billion in assets, BofI
Federal Bank provides consumer and business banking products
through its low-cost distribution channels and affinity partners.
BofI Holding, Inc.'s common stock is listed on the NASDAQ Global
Select Market under the ticker symbol BOFI and is a component of
the Russell 2000® Index and the S&P SmallCap 600® Index. For
more information on BofI Federal Bank, please visit
www.bofifederalbank.com.
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a
technology company in the global payments industry. We operate the
world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in
more than 210 countries and territories. MasterCard’s products and
solutions make everyday commerce activities – such as shopping,
traveling, running a business and managing finances – easier, more
secure and more efficient for everyone. Follow us on Twitter
@MasterCardNews, join the discussion on the Cashless
Pioneers Blog and subscribe for the latest news on
the Engagement Bureau.
Brink’s Global PaymentsNasser Chanda,
804-289-9775PresidentorTSYSCyle Mims, 706-644-3110
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