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
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
12 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
12 hours ago
"SAR Stats," new from #FinCEN, focuses on #bitcoin. See #NewsNow http://t.co/vS7iTwY2SW
13 hours ago
.@CFPB now accepts consumer complaints on prepaid cards, debt settlement services, credit repair services, and pawn and title loans.
14 hours ago
.@WellsFargo to process transactions in order received, not high to low http://t.co/g0jWJoegoJ
15 hours ago