Program Manager Merchant Processing International Inc. DBA Bank Freedom, a wholly owned subsidiary of Prepaid Card Holdings, Inc. (Pink Sheets: PPDC), announced today that it has gained approval from its issuing bank MetaBank™ (NASDAQ: CASH) and Visa Inc. (NYSE: V) to market the Bank Freedom Prepaid Visa® Card. Bank Freedom plans to launch the card in 10 days.
Robert Christiansen, COO of Bank Freedom stated, “We at Bank Freedom strive to be the prepaid card industry’s leading example at how to best serve America’s unbanked and underbanked individuals. Our business model is to provide a wide range of much needed financial products that improves the quality of life for our cardholders, saves them time and money, and eliminates their dependence on check cashing centers and money orders. The Bank Freedom Prepaid VISA offers them a safer than cash option that comes with FDIC insurance and Visa’s Zero Liability policy.”
Nicole Murlowski, Manager of Compliance stated, “I love coming to work each day. I have been in Customer Care my entire career. I talk to cardholders every day who tell me Bank Freedom’s free direct deposit saves them time and money, and to our unbanked and underbanked cardholder base, every penny counts.”
About Bank Freedom
Bank Freedom has recently entered the prepaid card industry. The BankFreedom Prepaid Visa® Card is issued by MetaBank™ pursuant to license by Visa U.S.A. Inc. According to market data available, there are between 40 and 80 million people in the United States who don't have a bank account or who can't qualify for a credit card because their credit scores are too low. This is called the unbanked and underbanked market. The emerging prepaid card solutions offered by Bank Freedom can act as a card account and payment solution for those people who do not use banks or credit cards. For the unbanked and underbanked, the evolution taking place with prepaid cards can replace their reliance on check cashing centers, money orders, and the inability to buy certain products that require a major credit card.
For further information contact Bruce Berman at 877-237-6260 ext. 128 or visit the Company website at www.BankFreedomVisa.com
About Prepaid Card Holdings, Inc.
Prepaid Card Holdings, Inc. is a publicly traded holding company whose current holdings consist of a 100% interest in the Berman Marketing Group, Inc., a multi-channel direct market firm specializing in direct response marketing through Television, Radio, Internet and Print media and Merchant Processing International Inc. DBA Bank Freedom.
For further information contact Bruce Berman at 877-237-6260 ext. 128 or visit the Company website at www.PrepaidHoldings.com.
About Meta Bank™
MetaBank is a federally chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc.® is the holding company for MetaBank, Meta Payment Systems®, and Meta Trust Company®. The Meta Payment Systems (MPS) division of MetaBank based in Sioux Falls, South Dakota, is a recognized leader in the prepaid card industry and provides innovative payment solutions delivered nationally in collaboration with market-leading partners. MPS focuses on offering specific product solutions in the following areas: (i) prepaid cards, (ii) credit cards and lending solutions, and (iii) ATM sponsorship. Meta Financial Group is traded on the NASDAQ Global Market®: CASH. For more information visit http://www.metacash.com.
FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this release discusses any expectations concerning future plans, financial results or performance, such statements are forward-looking within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended, and are subject to substantial risks and uncertainties. Actual results could differ materially from those anticipated in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof and reflect only management's belief and expectations based upon presently available information. These statements, and other forward-looking statements, are not guarantees of future performance and involve risks and uncertainties and the Company assumes no obligation to update any of the forward-looking statements in this release.
Contacts:
Bruce Berman, 877-237-6260 ext. 128
www.PrepaidHoldings.com
