nFinanSe has launched new products that show how the pricing of general purpose reloadable cards has come down. The company announced Sept. 14 that it had launched $3 Visa and $3 Discover reloadable prepaid cards at Cumberland Farms convenience store locations in New England, the Mid-Atlantic States, and Florida. The company’s stated goal is compete on price for prepaid card business. The price to match seems to be Wal-Mart’s price, although that has not forced some competitors, such as Rush Card, to lower their prices.
“By offering it’s customers a $3 Visa or $3 Discover Reloadable Card, Cumberland Farms will now be able to compete with any retailer on the basis of price for a Reloadable Card. In addition, the cards feature real-time text message alerts, online bill pay, $0.99 ATM withdrawal fees, direct deposit and no hidden fees,” says Jerry R. Welch, Chairman and Chief Executive Officer of nFinanSe.
nFinanSe’s Reloadable Prepaid Visa and Discover Cards retail for $3, have a low $2.95 Top-Up Fee, a Monthly Maintenance Fee of only $2.95, FREE 24/7/365 Live Agent Customer Service in English and Spanish, FREE Employer Direct Deposit, FREE Real-time Transaction Text Messages and FREE PIN and Signature Transactions.