J.G. Wentworth has built a business helping people get money from structure settlements faster than the normal payment schedule. Now it is expanding its business into prepaid cards.
“The J.G. Wentworth Company, a structured settlement payments firm, has announced it will be partnering with FIS and MetaBank to establish a new prepaid debit card for its customers. FIS will act as the processor for the prepaid card, with MetaBank serving as the issuing bank.”
Earlier this year the company expanded into personal lending with a partnership with the loan company Avant. The extension makes sense for Wentworth, which has built a brand by offering to help people get ‘cash now’ from their settlements. It has received a high volume of calls from people looking for loans and other financial services. So the company is looking to use the strength of a brand built around structured settlements to provide a broader suite of financial services.
Overview by Ben Jackson, Director, Prepaid Advisory Service at Mercator Advisory Group
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