- NetSpend Visa® Prepaid Cards to be Sold at 5,000 7-Eleven Locations in the U.S. -
- New Agreement Marks NetSpend's Largest Retail Distribution Footprint to Date -
AUSTIN, Texas, Jan. 25, 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 a distribution agreement to sell its NetSpend Visa® prepaid cards at 7-Eleven, Inc.'s participating franchised and company-operated stores nationwide. 7-Eleven is the premier name and largest chain in the convenience retailing industry.
"Our partnership with 7-Eleven is very important to NetSpend as this agreement positions us to significantly grow our retail footprint," said Dan Henry, chief executive officer of NetSpend. "In many 7-Eleven stores now, our GPR cards give consumers more choice and access to alternative banking solutions."
In a recent announcement, NetSpend said it also is expanding its reload network to thousands of 7-Eleven locations across the U.S. "The combination of selling our GPR cards and expanding our reload network at 7-Eleven stores gives self-banked consumers an easier way to take care of their financial services needs outside of the traditional, normal banking hours and at locations that are more convenient to them," added Henry.
"We believe offering NetSpend prepaid cards is an ideal solution for our customers who want convenient financial services when they come to our stores," said Jesus Delgado-Jenkins, 7-Eleven's senior vice president for merchandising, marketing and logistics. "We are rolling out the NetSpend prepaid cards now and expect to be selling them in more than 5,000 stores this year."
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, TX, NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP.
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About 7-Eleven, Inc.
7-Eleven, Inc. is the premier name and largest chain in the convenience retailing industry. Based in Dallas, Texas, 7-Eleven operates, franchises or licenses more than 9,000 7-Eleven® stores in North America. Globally, there are approximately 44,300 7-Eleven stores in 16 countries. During 2010, 7-Eleven stores worldwide generated total sales close to $63 billion. 7-Eleven has been honored by a number of companies and organizations recently. Accolades include: #2 on Forbes magazine's 2011 list of Top Franchises for the Money; #3 spot on Entrepreneur magazine's Franchise 500 list for 2012, #3 in Forbes magazine's Top 20 Franchises to Start, and #2 in Franchise Times Top 200 Franchise Companies. Hispanic Magazine named 7-Eleven in its Hispanic Corporate Top 100 Companies that provide the most opportunities to Hispanics. 7-Eleven received the 2010 Retailer of the Year honor from PL Buyer because of the company's private-label brand initiative. 7-Eleven is franchising its stores in the U.S. and expanding through organic growth, acquisitions and its Business Conversion Program. Find out more online at www.7-Eleven.com.