SOURCE: The SpendSmart Payments Company

The SpendSmart Payments Company

September 26, 2013 07:00 ET

SpendSmart Expands Into Prepaid Card Programs for State and County Governments

Opens Potential for Ramping Revenues by Providing Prepaid Card Program Management to the Broader Government Sector

DES MOINES, IA--(Marketwired - Sep 26, 2013) - The SpendSmart Payments Company (PINKSHEETS: SSPC), a provider prepaid payment programs, announced today that it has expanded its business to serve a new end-use market in the municipal, county and state government prepaid card segment through its SpendSmart Program Manager business lines. SpendSmart has signed a Letter of Intent to become the prepaid card program manager for a company that is currently issuing 12,000 cards per month through municipal, county and state governments.

The Company's SpendSmart Program Manager offering is a state-of-the art platform that offers operational and customer service capabilities to other prepaid card marketers. This service is The SpendSmart Payments Company's first new line of business since launching its award winning teen prepaid card.

"Our entry into the prepaid card program manager market for the government segment provides us an excellent opportunity to further expand to other prepaid card program segments. We expect this initiative will further enhance our revenue lines and our ability to support third-party prepaid card programs with our SpendSmart Program Manager business line. We also expect to enter into additional business verticals as we continue to execute on and build out our growth strategy," stated Bill Hernandez, President of The SpendSmart Payments Company.

For more information, please visit: www.spendsmartcard.com

About The SpendSmart Payments Company
The SpendSmart Payments Company, Inc. (Ticker: SSPC) is making money smarter. The Company is expanding its prepaid debit card services from issuing its own cards to select user demographic segments, to the providing SpendSmart Program Manager services to third-party card issuers. The Company's primary product, the SpendSmart Prepaid MasterCard for teens, offers resources to families with teens who want to learn responsible spending habits. The SpendSmart card provides its users with modern methods of developing financial literacy, centered around a card solution for parents who aim to guide their teens in making sensible, economic choices. The card helps open the lines of communication between parent and teen by tracking spending in real time and, ultimately, creates teachable moments around smart spending habits. For more information, please explore www.spendsmartcard.com.

Safe Harbor Statement
Certain statements contained in this press release are "forward-looking statements" within the meaning of federal securities laws, including, without limitation, anything relating or referring to future financial results and planned business activities. Such statements are inherently subject to risks and uncertainties, which include, without limitation, those in Company reports filed with the SEC. The Company can give no assurance that such expectations will prove correct. Future events and actual results could differ materially from those statements.

Contact Information

  • Investor Relations Inquiries:
    Laurel Moody
    646.810.0608
    Corporate Profile, LLC