EZCORP and NetSpend Collaborate on Debit Card with Built-in Overdraft Protection
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AUSTIN, Texas, July 24 - 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® 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® 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 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.® is the bank holding company for MetaBank, MetaBank West Central, Meta Payment Systems®, and Meta Trust Company®. 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, ashields@gcigroup.com, or Meghan Butler, mbutler@gcigroup.com, both of GCI Read-Poland, +1-512-472-4122, for NetSpend Corporation Web site: www.netspend.com/ http://www.metacash.com/
