MoneyGram International, a provider of payment services, and AccountNow, a provider of financial solutions, have signed an agreement to launch the new MoneyGram AccountNow Prepaid Visa card, which will be available at select MoneyGram agent locations starting in June 2009.
MoneyGram has said that the agreement builds on an existing relationship wherein it is providing consumers with the facility to add funds to their AccountNow reloadable prepaid cards at any of its MoneyGram ExpressPayment locations across the US.
The MoneyGram AccountNow Prepaid Visa card will participate in the Visa ReadyLink, Interlink and Plus networks. No credit or bank account is necessary for card holders to load cash at any MoneyGram agent location, and consumers can use the card everywhere Visa debit is accepted, said MoneyGram International.
The MoneyGram AccountNow Prepaid Visa card is issued by MetaBank pursuant to a license from Visa USA.
Tim Summers, general manager of consumer products for Americas at MoneyGram International, said: This is truly a win-win for both companies. AccountNow, with its expertise in acquiring, servicing and managing underbanked consumers, is an excellent partner to enable MoneyGram to deliver an exceptional prepaid card to our customer base. And, MoneyGram, with its 40,000 locations in the US, brings a new level of convenience to AccountNow customers.