nFinanSe Inc. (OTCBB:NFSE) is launching another of its $3 Visa Reloadable Prepaid Debit Cards available for purchase at Fred’s Hometown Discount Stores (NASDAQ:FRED), a regional chain of 674 General Stores scattered throughout the Southeast and Midwest U.S.
Jerry R. Welch, Chairman and Chief Executive Officer of nFinanSe was quoted:
“We are very excited to be launching our $3 Visa Reloadable Prepaid Debit Card at Fred’s on the heels of the September launch of our $3 Reloadable Prepaid Discover® Card. With the $3 Visa Card from nFinanSe, Fred’s will be offering a reloadable prepaid card with the best overall fees to the consumer. The nFinanSe Card sells for $3, our reload fee and monthly maintenance fee are only $2.95, our ATM withdrawal fee is an industry low $0.99, and our online bill pay is just $0.44 the cost of a postage stamp.”
Originally founded in Coldwater, Mississippi, Fred’s opened in 1947 and is now headquartered in Memphis, Tennessee operating almost 700 discount general merchandise stores, over 300 pharmacies and 24 franchises, mostly in the southeastern states. Fred’s claims to have a unique product mix combining the best elements of dollar discount stores, drug stores and mass merchants as they stock over 12,000 items that most popular and addressing the everyday needs of their clientele.
The Visa Reloadable Prepaid Debit Card is issued by Palm Desert National Bank pursuant to a license from Visa U.S.A., Inc. nFinanSe is a registered ISO of Palm Desert National Bank. All cards funds are insured by the FDIC in accordance with the FDIC’s applicable terms and conditions.