NetSpend

varron104 By varron104, 2nd Oct 2010 | Follow this author | RSS Feed | Short URL http://nut.bz/1jdv0kdw/
Posted in Wikinut>Business>Investment

The additional cost was due to the additional risk in the typical consumer profile that is shunned by traditional financial institutions.

NetSpend

The NetSpend Corporation was founded and established by Roy and Bertrand Sosa brothers. The two were both teenagers when they move from Mexico to the United States with their family. In the year 1998, they established and launched NetSpend with the initial investment of $750 from their own one-bedroom apartment.

NetSpend corporation is a company that provides processing and marketing services for private and propriety Master Card and Visa prepaid debit cards.

They are the largest prepaid debit card in the United States of America selling their cards in about 10,000 in check-cashing centers,gasoline stations, convenience stores and groceries nationwide.

The goal of the company is to provide their consumer who have lack establish credit or banking relationships typically associated with debit and credit cards in a secure,flexible and convenience means.

On these products features and transactions, mainstream consumers receive a free or little cost while sub-prime credit consumers are usually charged higher fees.

The additional cost was due to the additional risk in the typical consumer profile that is shunned by traditional financial institutions.

Their products include; re-loadable Debit Cards that can be continuously reloaded with funds, Gift Cards that are purchased in predominated values, these cards cannot be reloaded, and Travel Cards which was considered as hybrid compared to the two previous cards.These cards can be reloaded in a limited number of times and there are additional travel protection benefits to the card holder’s purchase.


In conjunction with the financial service Centers of America (FiSCA) , NetSpend became the first prepaid card processor which offer a savings account feature with their cards.

They are also the one who first offer a “pink card”. Pink card contributes a portion of its profit fro breast cancer research and education.

Tags

And, Are, Card Marketing, Card Processing, Credit Card, Debit Card, Gift Card, Prepaid Card, Reloadable Cards, The, Travel Card, What

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author avatar varron104
I'm a content writer. I also write for other sites (triond,bukisa,factoidz,redgage, and in expertscolumn) http://expertscolumn.com

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