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NetSpend and DolEx Dollar Express, Inc. Announce New Prepaid Card Distribution Agreement
AUSTIN, Texas, Aug. 7, 2012 (GLOBE NEWSWIRE) -- NetSpend Holdings, Inc. (Nasdaq:NTSP), a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services, today announced that it has entered into an agreement with DolEx Dollar Express, Inc. to sell prepaid cards through its network of more than 550 proprietary company-owned retail stores. DolEx is one of the largest providers of money transfer and other financial services in the U.S.
"This new partnership gives us another way to reach consumers who want convenient access to prepaid debit cards," said Dan Henry, chief executive officer of NetSpend. "Partnering with DolEx gives us the opportunity to offer their customers a feature-rich, alternative banking solution through local neighborhood stores they already go to and with people they trust."
Later this year, the two companies plan to launch a prepaid card program that will be offered to consumers through DolEx's network of more than 550 proprietary company-owned retail stores located in 20 states throughout the U.S. Cardholders also will be able to reload cash onto their prepaid cards at these locations.
"We see a growing demand for prepaid debit cards from our customers, and we chose to partner with NetSpend because they offer the best product features in the prepaid industry along with a variety of plans to choose from that will ensure our customers can experience all the benefits of being self-banked," said Mario Trujillo, chief executive officer of DolEx Dollar Express, Inc.
NetSpend is a leading provider of general-purpose reloadable (GPR) prepaid debit cards and related financial services to the estimated 60 million underbanked consumers in the United States who do not have a traditional bank account or who rely on alternative financial services. The Company's mission is to develop products and services that empower underbanked consumers with the convenience, security and freedom to be self-banked. Headquartered in Austin, TX, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP. Please visit http://www.netspend.com for more information.
The NetSpend Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8154
About DolEx Dollar Express, Inc.
DolEx Dollar Express, Inc. is the US subsidiary of Money Transfer Acquisition, Inc., a Holding Company formed in 2010 by a management team led by seasoned entrepreneur, Mario Trujillo, in partnership with Private Equity firms, led by Palladium Equity Partners, LLC, to acquire DolEx, Europhil and Remesas Quisqueyana, with the intent to build another fast growing, successful financial services company in the US and Europe. DolEx has successfully operated over 15 years in the International Money Transfer industry. As one of the leaders in international family remittances, DolEx has the largest company owned store network targeting the growing Hispanic market in the US and offers money transfers and other financial & communication products and services across its network of more than 550 proprietary company-owned stores and over 1,200 retail agent partners. Money transfers and other ancillary services are offered via the company's core brand, DolEx, and its affiliated brands of Quisqueyana, and Europhil in Spain. For further information about the companies, please visit www.dolex.com.
DolEx Dollar Express, Inc.