The Brink’s Company, which is best known for its armored car services, has launched a prepaid card with NetSpend, the company announced this week.
“Brink’s Global Payments, LLC, in partnership with NetSpend, a TSYS company (NYSE: TSS), and prepaid provider of choice to self-banked consumers and the brands that serve them, today announced the launch of the Brink’s Prepaid MasterCard® issued by BofI Federal Bank. The Brink’s prepaid card appeals to consumers seeking peace of mind from a secure and stable money management solution. Consumers using the Brink’s card have access to many convenient and flexible features to accommodate their busy, on-the-go lives, including direct deposit up to 2 days faster1, 24/7 access to their account with an online account center and smartphone apps, virtual cards for online shopping and free online money transfers to other cardholders.”
The card offers similar features to NetSpend’s other products, such as rewards and a high yield savings account to those cardholders who upgrade to its “Preferred Account.” NetSpend has been a successful program manager, so it has considerable experience to lend to the Brink’s card. The new card’s success will depend on the execution of its marketing plans.
Brink’s may not be the world’s most popular consumer brand, but it may have an advantage in reaching people who are likely prepaid card users. Young people working in retail and restaurants who see Brink’s trucks picking up or delivering cash or servicing ATMs might make a connection that Brink’s could be a good provider for a prepaid card. It will be necessary for Brink’s marketing to foster that impression as it works to popularize its prepaid cards.
Overview by Ben Jackson, Director, Prepaid Advisory service at Mercator Advisory Group
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