NetSpend® Corporation - Empowering Consumers
NetSpend Corporation is a leading provider of reloadable prepaid debit cards and related financial services to underbanked consumers in the United States. We serve the estimated 60 million underbanked consumers who do not have a traditional bank account or who rely on alternative financial services. Our mission is to provide products and services that empower consumers with the convenience, security and freedom to be self-banked.
Since 1999, our products have enabled more than 7 million consumers to make purchases, pay bills and manage their money without the need for a checking account or credit history.
NetSpend's extensive distribution network provides consumers the ability to purchase and reload prepaid debit cards at more than 100,000 locations, such as retailers, check cashers, convenience stores, grocers, insurance providers, tax preparers and many others. In addition, our direct distribution channel reaches consumers beyond our store-based distributors. NetSpend is also a leading provider of corporate payroll card solutions, which not only benefit employees, but also help employers achieve 100% paperless payroll system.
NetSpend is traded on the NASDAQ stock exchange under the symbol NTSP. The company is based in Austin, Texas with additional offices in Atlanta, GA;, Charlotte, NC; Leawood, KS; and San Mateo, CA.
Prepaid Debit Cards
NetSpend offers FDIC-insured Visa® and MasterCard® Prepaid Cards, issued by various state and federally regulated financial institutions. NetSpend Prepaid Cards feature free Direct Deposit; 24/7 account access via online, phone or text message; bill pay services; and an optional savings account offering an industry-leading 5.00% APY.1 NetSpend Prepaid Cards provide an end-to-end banking solution meeting the needs of underbanked consumers.
NetSpend Prepaid Cards can be ordered online or purchased at more than 30,000 nationwide locations including grocery stores, check cashers and convenience stores. View some of our distribution and reload partners here. Or, visit our Reload Center locator to find partner locations nearest to you.
Corporate Payroll Cards
NetSpend offers payroll card solutions under the Skylight Financial brand that meet the needs of both employers and their employees. Skylight payroll cards have many of the same features as NetSpend cards, including FDIC-insurance, MasterCard® or Visa® branding, free Direct Deposit, 24/7 account access via the web, phone or text message, and bill pay services. As a complement to our payroll cards, we also offer online wage statement and W-2 capabilities that help employers achieve 100% paperless payroll and significantly reduce expenses. For more information, visit skylightfinancial.com.
Our Platform and Services
NetSpend has developed a proprietary, fully-integrated payments platform. This includes critical functions required for us to acquire cardholders; process transactions; maintain account-level data; communicate with cardholders; manage risk; ensure regulatory compliance; and stay in close contact with our issuing banks as well as our distributors. These integrated capabilities allow us to customize our products and services for different markets, distribution channels and customer segments. Furthermore, by processing transactions on our own platform, we gain unique and extensive insight into the attitudes, characteristics and purchasing behavior of underbanked consumers.