MetaBank® Launches New Reloadable Prepaid Card with Travel Benefits for AAA

Nov 06 2018

SIOUX FALLS, S.D., Nov. 6, 2018 /PRNewswire/ -- MetaBank®, a wholly-owned subsidiary of Meta Financial Group, Inc.® (NASDAQ: CASH) ("Meta"), today announced the launch of the AAA MemberPay Visa® Prepaid Card — a card that combines general purpose reloadable ("GPR") and travel features. Based on feedback from members of the American Automobile Association ("AAA") and consumer preference, the AAA MemberPay Card's features are intended to meet the demand for a single-source prepaid solution with broad capabilities. Meta is a leader in delivering innovative payment, community banking and financing solutions to business partners throughout the country.

The EMV-enabled AAA MemberPay Visa® Prepaid Card pairs GPR features, such as multiple load options, card personalization, companion cards and cardholder email and text alerts, with travel benefits that include Visa's Zero Liability Policy for added fraud protection, emergency cash replacement, emergency card replacement and lost luggage reimbursement at no additional cost to the cardholder. Additionally, the AAA MemberPay Card offers a large fee-free ATM network in the United States. It also has some of the lowest fee structures in the industry, with no monthly fee for the first 90 days and no fee thereafter with a $10 monthly reload. Load options include direct deposit, ACH bank transfers, credit and debit and mobile app remote deposit.

"Research shows that AAA members want to use prepaid payments cards for both vacation and day-to-day spending. The AAA MemberPay Card is designed to meet those needs, is easy to manage with the touch of a button via our mobile app and features a number of convenient reload options. It provides best-in-class travel and general-purpose benefits," said Sheree Thornsberry, MetaBank EVP and Head of Payments. "It's rewarding to help AAA members think beyond travel and offer them the opportunity to use this powerful card across their payments needs."

Meta has a 10-year payments relationship with AAA. The AAA MemberPay Card replaces the Visa TravelMoney® Card, which had been available since 2008.

"Partnering with Meta on the development of the AAA MemberPay Card supports our efforts to bring highly valued, everyday financial solutions to our members," said Scott Denman, AAA Vice President of Financial Services and Discounts & Rewards. "AAA members can use the card for travel, sharing funds among family members or online payments or as a dynamic budgeting tool."

Meta works with high-value niche industries, rapid-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. MetaBank is the second-largest issuer of prepaid cards in the US, having issued more than a billion cards in partnership with banks, program managers, payments providers, sponsors and other businesses.

About Meta Financial Group, Inc.®
Meta Financial Group, Inc. ® (Nasdaq: CASH) is the holding company for the financial services company MetaBank® ("Meta"). Founded in 1954, Meta has grown to operate in several different financial sectors: payments, tax services, national commercial lending, community banking, national consumer lending and insurance premium financing. Meta works with high-value niche industries, strategic-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta tailors solutions for bank and non-bank businesses, and provides a focused collaborative approach. The organization is helping to shape the evolving financial services landscape by directly investing in innovation and acquiring complementary businesses that strategically expand its suite of services. Meta has a national presence and over 1,200 employees, with corporate headquarters in Sioux Falls, S.D.  For more information, visit the Meta Financial Group website or LinkedIn.

About AAA 
As North America's largest motoring and leisure travel organization, AAA provides more than 56 million members with travel, insurance, financial and automotive-related services. Since its founding in 1902, the not-for-profit, fully tax-paying AAA has been a leader and advocate for the safety and security of all travelers. Motorists can map a route, identify gas prices, find discounts, book a hotel and access AAA roadside assistance with the AAA Mobile app for iPhone, iPad and Android. Learn more at AAA.com/mobile. AAA clubs can be visited on the Internet at AAA.com

Investor Relations and Media Contact:
Brittany Kelley Elsasser
Director of Investor Relations
605.362.2423
bkelley@metabank.com

 

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SOURCE Meta Financial Group, Inc.