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TSYS Announces $1.4 Billion Acquisition of NetSpend

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This week, TSYS announced that it is buying the second largest prepaid debit card company, NetSpend, for $1.4 billion. The purchase, expected to be complete by summer, will give TSYS access to the growing market for prepaid debit cards.


Here’s a closer look at what TSYS is adding to their portfolio including a few facts about the prepaid debit card market:
    • The market for prepaid debit cards is estimated at 68 million potential consumers
    • NetSpend’s customer list includes more than 2.4 million accounts
    • More than 45% of NetSpend’s accounts are direct deposit
    • NetSpend prepaid debit cards are available at more than 62,000 locations
TSYS anticipates a 20% growth in the prepaid debit card market by 2018. 
TSYS first demoed with Finovate in 2010 as part of FinovateSpring.  They were also among the 64 companies that demoed at FinovateEurope in February. Videos of the FinovateEurope presentations will be available soon.