|
|
|
BET
Networks and NetSpend introduce pre-paid MasterCard for
African-Americans
(March 29, 2012) In response to the millions of African Americans who
are either unbanked or underbanked in the U.S., BET Networks and
NetSpend Holdings, Inc. has announced that they have launched a powerful
alternative banking solution in the form of the Control Prepaid
MasterCard card to provide these consumers with the power, confidence
and control to manage their money.
A Federal Deposit Insurance Corporation (FDIC) survey reports that at
least 25 percent of U.S. households, occupied by approximately 60
million adults, are either unbanked or underbanked. In addition, nearly
22 percent of African American households do not have bank accounts.
According to Kelton Research, many of these consumers do not have access
to bank accounts or do not trust banks. Further, there is a large
population of underbanked consumers in the African American community.
"Millions of African Americans are unable to access banking services,
which are a staple of most Americans' lives," said Scott Mills,
president and chief operating officer of BET Networks. "We are thrilled
to partner with NetSpend to launch the Control Card as a true
alternative banking solution to help address this critical issue. The
Control Card has a combination of the best features available today and
is specifically designed to address the needs of African American
unbanked or underbanked consumers."
"We have been serving the needs of the unbanked and underbanked for more
than 10 years, and we know that trust and awareness are essential to
reach these consumers that are 'trapped' in the cash economy," said Dan
Henry, chief executive officer of NetSpend. "This is an ideal
partnership to reach these consumers with their trust in BET and
NetSpend's experience and platform to deliver a cost-effective,
feature-rich alternative banking solution."
The Control Card offers many features and perks, including but not
limited to the following:
- A range of free online and mobile banking services
- Free direct deposit up to two days faster than traditional banking
policies
- A merchant-funded cash back reward program
- An optional, FDIC-insured savings account that requires no minimum
balance or initial deposit yet offers a high-yield promotional APY
- $10 purchase cushion – covers the eligible cardholder's purchase
transactions up to $10.00 over their card balance
The Control Prepaid MasterCard card is FDIC insured and features a
competitive basic monthly fee with no added monthly inactivity or
maintenance fees. There is no fee to order the card, and it can be used
anywhere Debit MasterCard cards are accepted. MasterCard is a registered
trademark of MasterCard International Incorporated.
The Control Card may be ordered online at www.mycontrolcard.com, and it
will be marketed through BET Networks' media platforms, online and
direct mail.
Go to Target Market News homepage
RECENT STORIES
McDonald's elevates Don Thompson to CEO after Jim
Skinner's retirement in July
TV One plans to double the amount of original content in upcoming season
Black Cable TV Ratings for Week of March 5 - 11
BET's 'The Game' holds on to No.1 over Oprah's Whitney Houston special
NABJ Honors CNN's Janet Rolle with annual Media
Professional Award
Black Cable TV Ratings for Week of March 5 - 11
BET's 'The Game' holds on to No.1 over Oprah's Whitney Houston special
Barry Mayo, President of Radio One, turns in his
resignation
Black TV Ratings for Week of March 5 - 11 NBC makes
some gains with black viewers, but CBS still the favorite network
Dr. Nicol Turner-Lee has been named President and
CEO of NAMIC
Bounce TV airing in Los Angeles market through
agreement with Fox's KCOP-TV
Real Times Media partners acquire Atlanta Daily
World as group's sixth newspaper
Black Cable TV Ratings for Week of Feb. 27 - Mar. 4
BET gains traction with 'The Game' and takes No.1 on Top 25 cable chart
Pepper Miller updates perspectives on
African-American marketing in new book
Click here for
more recent news stories and our news archive
Return to top of page
|
|
|
