SIOUX FALLS, S.D., March 12, 2018 /PRNewswire/
-- MetaBank®, a wholly-owned subsidiary of Meta
Financial Group, Inc.® (NASDAQ: CASH) ("Meta") and a
leader in delivering innovative payment and banking solutions to
partners throughout the country, today announced the 10-year
renewal of its relationship with Money Network Financial, LLC, a
wholly-owned subsidiary of First Data (NYSE: FDC). MetaBank
supports a range of Money Network payments programs, most notably
the Money Network® Electronic Payment Delivery Service,
which large organizations use to provide employees the option of
receiving wages electronically.
"Money Network is an innovative, forward-thinking company, and
we're thrilled to continue our longtime relationship for another
decade. We are very proud to have this kind of consistency and
longevity with a large-scale payments program, particularly in
today's rapidly evolving payments landscape," said Sheree Thornsberry, MetaBank Executive Vice
President and Head of Payments. "We look forward to working with
Money Network to maintain the successful payments programs we've
built together and bring new, inventive products to market. To
date, our products have provided efficient, secure and flexible
payment alternatives to checks and cash for government agencies and
large businesses, allowing them to realize significant cost savings
and increased efficiencies."
MetaBank and Money Network have worked together since 2005 to
deliver a host of prepaid products. With Money Network, employers
reduce their cost of payroll delivery by minimizing paper checks,
and consumers benefit from solutions that include prepaid cards for
financial management and a variety of tools to track their money.
The use of prepaid cards for the purposes of disbursements and
payroll delivery is on the rise, and Mercator Advisory Group
expects that loads in this segment will reach $47.2 billion by 2020.
"MetaBank is a pioneer in the payments industry, and we're proud
to have collaborated with them for more than a decade now to offer
industry-leading solutions to our clients," said Barry McCarthy, Executive Vice President, Head
of Network and Security Solutions at First Data. "We are constantly
innovating to enhance the features we provide to our Money Network
clients and cardholders. As we continue to evolve the service and
grow our cardholder base, MetaBank has the scope, scale and
creativity needed to support these efforts."
MetaBank's suite of electronic payments solutions includes
prepaid cards, credit products, electronic funds transfer and ATM
sponsorship.
About Meta Financial Group
Meta Financial Group, Inc.
("Meta") is the holding company for MetaBank®, a
federally chartered savings bank. Meta shares are traded on the
NASDAQ Global Select Market® under the symbol CASH.
Headquartered in Sioux Falls,
S.D., MetaBank operates in both the Banking and Payments
industries through: MetaBank, its traditional retail banking
operation; Meta Payment Systems, its electronic payments division;
AFS/IBEX, its insurance premium financing division; and Refund
Advantage, EPS Financial and Specialty Consumer Services, its
tax-related financial solutions divisions. More information is
available at metafinancialgroup.com.
Media
Contact:
|
Investor Relations
Contact:
|
Katie
LeBrun
|
Brittany Kelley
Elsasser
|
Corporate
Communications Director
|
Director of Investor
Relations
|
605.362.5140
|
605.362.2423
|
klebrun@metabank.com
|
bkelley@metabank.com
|
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SOURCE Meta Financial Group, Inc.