Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Products
TMG reloadable prepaid cards aim to reach underserved
DES MOINES, Iowa (3/2/12)--The Members Group (TMG), a provider of card processing and payment systems, has added instant issuance to the list of features on ATIRA- and Coopera-branded reloadable prepaid cards to assist credit unions in reaching the underserved market, TMG said.

"It's difficult for someone without a traditional banking relationship to hand over his hard-earned cash and then wait five to seven days for his card to arrive," said Konrad Christensen, TMG's retail payments product manager. "Being able to supply that card immediately will help financial institutions clear one of the major hurdles that come with introducing underserved communities to the financial mainstream."

TMG has modified its program so financial institutions no longer need to secure a Taxpayer Identification Number from a reloadable prepaid card applicant. This will make it simpler for financial institutions to begin offering vital financial services to immigrant populations, Christensen said.

Instant issuance will be available on TMG's ATIRAreload product and the  Coopera Card, a reloadable prepaid card, built specifically for the Hispanic market, offered by Coopera in partnership with TMG.
Other Resources

RSS print
News Now LiveWire
Tech. advances don't dampen consumer #cybersecurity concerns #NewsNow http://t.co/HNn4Hojadv
8 hours ago
.@TheNCUA board unanimously voted today to designate board member Rick Metsger as vice chairman, effective immediately.
8 hours ago
We really want to hear from our readers. Please take the News Now survey: http://t.co/BYiQ5vr5Ob
10 hours ago
Advanced technologies don't quell cybersecurity fears #NewsNow http://t.co/ZJ20bimRvv
10 hours ago
.@CentralMaineCom reports #creditunions have issued thousands of new cards to proactively protect members from Home Depot data breach.
12 hours ago