Company Description
www.nFinanSe.com
nFinanSe Inc. provides stored value cards for various markets, including grocery stores, convenience stores, and general merchandise stores. The company sells Visa and Discover branded, bank-issued general purpose reloadable, and gift cards (taken together as Cards). These Cards are sold directly to consumers through its distribution partners’ network of retail locations. The company has approximately 19,000 retail agent locations where its Cards are sold. Its general purpose reloadable is a branded prepaid stored value cards that is reloadable at nFinanSe Network locations and/or through ACH direct deposits. The company developed its nFinanSe Network, which connects it to its retail agents and other contracted load locations. As of January 1, 2011, the company had approximately 84,000 nFinanSe Network locations consisting primarily of Western Union and MoneyGram locations and approximately 19,000 retail agent locations where its Cards are sold. The nFinanSe Network enables it to issue and service its own general purpose reloadable cards and directly controlling various aspects of the cardholder experience, such as customer service and Web portal access. Business Relationships Card Associations: The company’s agreement with Visa and DFS Services LLC permits it to offer bank-issued stored value cards with card network holograms to prospective cardholders through various approved retail channels. Issuing Banks: The company uses banks to issue Discover, MasterCard, and Visa branded stored value cards. Competition The company’s primary competitors in the prepaid card issuance and program management market are traditional credit, debit and prepaid card account issuers and prepaid card program managers, such as Green Dot, FirstData, Netspend, AccountNow, PreCash, Rush Card, Western Union, and MoneyGram. History The company was founded in 2000. It was formerly known as Morgan Beaumont, Inc. and changed its name to nFinanSe Inc. in 2006.
