CMC to Offer Meta Payment Systems® Prepaid Products
Through a reseller agreement, CMC, a line of business within Fifth Third Processing Solutions, will now offer Meta Payment Systems, Simplexus™ prepaid program to its financial institution customers.
The Simplexus™ prepaid program enables financial institutions to expand their product offering without making a considerable investment in infrastructure. The Program offers four different options to build customer loyalty and reach new prospects including a Gift Card, a Reloadable Card, a Travel Card, and a Youth Card.
“The Simplexus™ prepaid product equips our clients with a uniquely branded set of open-loop prepaid cards to offer their customers, and now through CMC they are able to do this without a significant up-front investment,” said Dean Happe, vice president for CMC. “We believe our clients will see this as a very appealing opportunity to strengthen or add customer relationships, and provide an additional source of revenue.”
About CMC and Fifth Third Processing Solutions
Fifth Third Processing Solutions processes over 28.4 billion ATM and POS transactions per year for more than 2,900 financial institutions and over 169,000 retail locations worldwide, including the Armed Forces Financial Network (AFFN), First Niagara Financial Group, Sovereign Bank, The Kroger Co., AutoZone, Abercrombie & Fitch and The Finish Line. Through its wholly owned subsidiary, CMC, (www.cmcOne.com) Fifth Third also provides servicing solutions and product engineering for financial institutions and retailers for credit card, debit card, merchant and private label programs. Through its multi-channel contact center, CMC provides multi-lingual customer service, collections, fraud prevention, and other back-office services to thousands of clients throughout the US and Canada. Annually, Fifth Third processes $191.6 billion in credit card sales. According to The Nilson Report (March 2008), Fifth Third Bank is the fourth largest bankcard acquirer.
About Meta Payment Systems
Meta Payment Systems, a division of MetaBank™, is a recognized leader in the prepaid card industry and provides innovative payment solutions delivered nationally in collaboration with market-leading partners. Meta Payment Systems focuses on offering specific product solutions in the following areas: (i) prepaid cards, (ii) credit cards and lending solutions, and (iii) ATM sponsorship. Meta Financial Group, Inc.® (NASDAQ Global Market®: CASH) is the holding company for federally-chartered savings bank MetaBank™. For more information visit www.metapay.com.