PLEASANTON, Calif. and AUSTIN, Texas, Sept. 20, 2011 (GLOBE NEWSWIRE) -- Blackhawk Network, a leading provider of prepaid and financial payments products for consumers and businesses, today announced that it has entered into a distribution agreement with NetSpend (Nasdaq:NTSP), a company whose mission is to empower the estimated 60 million underbanked consumers in the United States with the convenience, security and freedom to be self-banked. Beginning in November 2011, Blackhawk Network plans to begin selling NetSpend Visa®prepaid cards at more than 3,000 retail locations within its prepaid network, including 1,425 U.S. Safeway stores and other locations.
"We are proud to once again be distributing our GPR card through Blackhawk and are very excited about our renewed partnership. The NetSpend card will initially be available in more than 3,000 locations with the potential in the future to expand to significantly more," said Dan Henry, Chief Executive Officer of NetSpend. "We are thrilled about this opportunity to grow our retail footprint."
This distribution agreement will expand NetSpend's partnership with Blackhawk Network. NetSpend customers are currently able to reload their NetSpend prepaid cards by purchasing a REloadit pack at any retail location within Blackhawk's REloadit Network. The REloadit pack, currently priced at $3.95, is featured at these locations on dedicated displays with multiple facings and signage.
"Our distribution partnership with NetSpend provides customers with even more convenient access to the alternative payment products they depend on," said Talbott Roche, president, Blackhawk Network. "We are proud to partner with NetSpend in providing consumers with simple and safe financial solutions in conducting their every day banking."
About NetSpend
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, Texas, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP.
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About Blackhawk Network
Blackhawk Network, a subsidiary of Safeway Inc., is a leading provider of prepaid and financial payments products for consumers and businesses. The company's Gift Card Mall™ offers the industry's most popular prepaid gift card and telecom products. Gift Card Mall reaches more than 165 million people each week through an exclusive network of leading grocery, big box, convenience, drug, and specialty stores and is available through Internet retailers including GiftCardMall.com. Blackhawk Network's business solutions include reward and incentive programs that offer choice and flexibility through a wide array of card brands, custom designed Visa® prepaid cards and fulfillment options.
Headquartered in Pleasanton, California, Blackhawk Network Inc. has offices in the United States, Australia, Canada, France, Mexico and the United Kingdom. For more information about Blackhawk Network visit http://www.blackhawknetwork.com/">www.blackhawknetwork.com and http://www.giftcardmall.com/">www.giftcardmall.com
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