NetSpend(R) and QC Financial Enter Agreement for Prepaid Debit Cards

Payday Loan Distribution Channel Expands With More Than 400 New Locations 


AUSTIN, Texas, June 9  /PRNewswire/ -- NetSpend Corporation, one of the premier providers of prepaid solutions in the United States, has entered into an agreement with QC Financial for a prepaid debit card program.  With more than 23 years of operating experience in the retail consumer finance industry, QC is a leading provider of payday loans in the United States.  The prepaid reloadable debit cards will be available at nearly 90 percent of QC's 596 locations across 24 states.

"NetSpend is thrilled that QC Financial has selected to work with us on their first prepaid card program," said NetSpend Chief Executive Officer Daniel R. Henry.  "Our processing platform allows us to develop ground breaking products that will now be available for QC's customers."

"We chose to work with NetSpend because of their expertise with prepaid products and their leadership in the marketplace," said QC President Darrin Andersen.  "NetSpend has proven itself to be a preferred partner for payday loan companies and we look forward to extending these cards to our customers."

  The cards will be issued by MetaBank, member FDIC.

  About NetSpend Corporation


NetSpend Corporation is one of the premier providers of innovative, accessible prepaid debit cards that enable financial freedom for under-banked consumers. Grounded by a mission of financial empowerment, NetSpend is committed to meeting its customers' financial services needs on their terms while offering the convenience, security and acceptance of conventional financial services. NetSpend's proprietary processing platform allows it to support prepaid card programs end-to-end from customer acquisition and card fulfillment to customer service and risk management. The NetSpend(R) Prepaid Card Network includes leading consumer brands and companies serving the un- banked and under-banked markets, and its strategic relationships include card issuers, EFT networks and payment card associations.  For more information, visit http://www.netspend.com/.

About QC Holdings, Inc.

Headquartered in Overland Park, Kansas, QC Holdings, Inc. is a leading provider of payday loans in the United States, operating 596 branches in 24 states at December 31, 2007. With more than 23 years of operating experience in the retail consumer finance industry, the company entered the payday loan market in 1992 and, since 1998, has grown from 48 branches to 596 branches through a combination of de novo branches and acquisitions. During fiscal 2007, the company advanced approximately $1.3 billion to customers through payday loans and reported total revenues of $213.6 million.

About MetaBank

MetaBank is a federally-chartered savings bank headquartered in Storm Lake, Iowa. Meta Financial Group, Inc.(R) is the bank holding company for MetaBank, MetaBank West Central, Meta Payment Systems(R), and Meta Trust Company(R). The Meta Payment Systems division of MetaBank based in Sioux Falls, South Dakota, serves banks, processors, and third party marketers by providing prepaid cards, credit cards, ACH origination, merchant acquiring, ATM sponsorship, and money transfer. Meta Financial Group is traded on the NASDAQ -- Global Market: CASH. For more information call 605.275.8052 or visit http://www.metacash.com/.

   Contact:
   Meghan Butler
   GCI Read-Poland for NetSpend Corporation
   [phone]


DATASOURCE: NetSpend Corporation



CONTACT:  Meghan Butler of GCI Read-Poland, [phone], for NetSpend

Corporation



Web site: http://www.netspend.com/

http://www.metacash.com/ 

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