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NetSpend(R) and QC Financial Enter Agreement for Prepaid Debit Cards
Monday, June 09, 2008 12:56 PM



Payday Loan Distribution Channel Expands With More Than 400 New Locations


AUSTIN, Texas, June 9 /PRNewswire/ -- NetSpend Corporation, one of thepremier providers of prepaid solutions in the United States, has entered intoan agreement with QC Financial for a prepaid debit card program. With morethan 23 years of operating experience in the retail consumer finance industry,QC is a leading provider of payday loans in the United States. The prepaidreloadable debit cards will be available at nearly 90 percent of QC's 596locations across 24 states.


'NetSpend is thrilled that QC Financial has selected to work with us ontheir first prepaid card program,' said NetSpend Chief Executive OfficerDaniel R. Henry. 'Our processing platform allows us to develop groundbreaking products that will now be available for QC's customers.'


'We chose to work with NetSpend because of their expertise with prepaidproducts and their leadership in the marketplace,' said QC President DarrinAndersen. 'NetSpend has proven itself to be a preferred partner for paydayloan companies and we look forward to extending these cards to our customers.'


The cards will be issued by MetaBank, member FDIC.


About NetSpend Corporation


NetSpend Corporation is one of the premier providers of innovative,accessible prepaid debit cards that enable financial freedom for under-bankedconsumers. Grounded by a mission of financial empowerment, NetSpend iscommitted to meeting its customers' financial services needs on their termswhile offering the convenience, security and acceptance of conventionalfinancial services. NetSpend's proprietary processing platform allows it tosupport prepaid card programs end-to-end from customer acquisition and cardfulfillment to customer service and risk management. The NetSpend(R) PrepaidCard Network includes leading consumer brands and companies serving the un-banked and under-banked markets, and its strategic relationships include cardissuers, EFT networks and payment card associations. For more information,visit http://www.netspend.com.


About QC Holdings, Inc.


Headquartered in Overland Park, Kansas, QC Holdings, Inc. is a leadingprovider of payday loans in the United States, operating 596 branches in 24states at December 31, 2007. With more than 23 years of operating experiencein the retail consumer finance industry, the company entered the payday loanmarket in 1992 and, since 1998, has grown from 48 branches to 596 branchesthrough a combination of de novo branches and acquisitions. During fiscal2007, the company advanced approximately $1.3 billion to customers throughpayday loans and reported total revenues of $213.6 million.


About MetaBank


MetaBank is a federally-chartered savings bank headquartered in StormLake, Iowa. Meta Financial Group, Inc.(R) is the bank holding company forMetaBank, MetaBank West Central, Meta Payment Systems(R), and Meta TrustCompany(R). The Meta Payment Systems division of MetaBank based in SiouxFalls, South Dakota, serves banks, processors, and third party marketers byproviding prepaid cards, credit cards, ACH origination, merchant acquiring,ATM sponsorship, and money transfer. Meta Financial Group is traded on theNASDAQ -- Global Market: CASH. For more information call 605.275.8052 or visithttp://www.metacash.com.


     Contact:     Meghan Butler     GCI Read-Poland for NetSpend Corporation     (512) 472-4122

SOURCE NetSpend Corporation


(Source: PR Newswire )


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