NetSpend Corporation announced another new reload option today, announcing a partnership with Vesta Corporation in which NetSpend cardholders can now immediately add funds to their prepaid debit cards from bank issued debit cards.
The announcement follows last weeks announcement of a reload agreement with Incomm, showing that Netspend is serious about making it easy for Netspend cardholders to have as many convenient reload options as possible.
In today’s release, Netspend and Vesta announced hat NetSpend cardholders can now add up to $250 to their prepaid debit cards from any bank debit card. Unlike other online reload services, new funds are added in real-time to the cardholder’s account, making funds immediately available. Other online reload services can take as long as five days for funds to be ready for use. With Vesta managing online reload transactions, NetSpend cardholders can now reload their prepaid debit cards without having to visit a point of sale location.
Dan Henry, the CEO of NetSpend stated:
NetSpend works to give our cardholders the products and tools to make managing their financial lives easy, convenient and secure. We turned to Vesta because of their reputation and track record. Vesta’s payments and transaction technology allowed NetSpend to quickly implement this new convenient and secure channel our cardholders can use to reload their cards.
Vesta’s program includes an innovative gifting feature that allows a customer to invite friends and family to contribute to a prepaid account. Invitations are delivered by email and include a link to begin the reload process. If desired, contributors can set up an account to expedite future reloads, further simplifying these person-to-person payments.
Vesta’s technology includes proprietary account verification and risk management practices that enable the provider to fully fraud-indemnify NetSpend from any costs resulting from fraudulent transactions. In addition, Vesta brings full PCI Data Security Standard (PCI DSS)-compliant payment processing to Web reloads.
Vesta’s president and CEO, Doug Fieldhouse discussed the announcement, stating:
As an innovator in value-added payments services, Vesta brings a unique perspective to evolving industry needs. Vesta plans to work with NetSpend to develop new products for the rapidly growing number of prepaid debit card customers.