UniRush Financial Services and Visa Extend Prepaid Relationship

November 19, 2009 at 8:02 AM EST

Companies Collaborate to Bring Greater Access to Prepaid Products and Services to Financially Underserved Consumers Nationwide

SAN FRANCISCO--(BUSINESS WIRE)--Nov. 19, 2009-- UniRush Financial Services and Visa Inc. (NYSE: V) announced today that they have renewed and expanded their long-standing relationship. As part of the agreement, UniRush will continue to offer the Prepaid Visa® RushCard, providing financially underserved consumers with a better alternative to cash and checks. Additionally, UniRush will enable its Prepaid Visa RushCard products to participate in Visa ReadyLink – Visa’s prepaid load network – extending the convenience and security of reload services to RushCard members.

According to Visa estimates, more than 80 million consumers in the United States are financially underserved – without a traditional banking relationship or access to a payment card. These consumers receive approximately $1 trillion in annual income and rely heavily on cash for everyday transactions.

Once enabled, Visa ReadyLink will allow RushCard members to add funds to their Prepaid Visa RushCards at nearly 50,000 locations nationwide – in real time – in convenient, everyday shopping locations like supermarkets, convenience stores, and other retailers.

“The RushCard mission is to empower our members by giving them access to services that help them reach their personal and financial goals,” said Ram Palaniappan, RushCard’s General Manager. “Through our expanded relationship with Visa we can continue to offer valuable tools and services that provide financial freedom to those that need it.“

“We look forward to building upon our long standing relationship with UniRush, and collaborating to bring greater access and convenience to consumers seeking a better alternative to a cash-and-carry lifestyle,” said Brian Triplett, Global Head of Prepaid Products at Visa Inc. “As consumers look to stay in control of their daily finances, prepaid cards – like the Prepaid Visa RushCard – can help consumers better manage their money, pay bills, receive deposits, and spend within their means.”

RushCard recently unveiled a number of product enhancements. Recently expanded features include budgeting tools, text alerts, and an opt-in credit service, through which members can report their transaction information to LexisNexis and PRBC; credit reporting agencies and lenders can use the information as a supplement for applicants with no credit or little credit history. The service is free and is included in the RushPath to Credit program, a program that helps members gain access to low-interest loans, and money management pages, which allow members to track their spending, deposit and balance trends.

For more information about the Prepaid Visa RushCard, please visit: https://www.rushcard.com/.

About UniRush Financial Services

Headquartered in Cincinnati, UniRush LLC was created to offer the over 48 million Americans without access to a traditional banking relationship an array of basic financial services via the Prepaid Visa RushCard. Benefits of the program include direct deposit, the ability to withdraw funds at over 850,000 ATMs globally, the ability to use the card wherever Visa debit cards are accepted and free 24/7 customer service. For more information about UniRush and RushCard visit www.rushcard.com.

About Visa Inc.

Visa is a global payments technology company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency. Underpinning digital currency is the world’s most advanced processing network—VisaNet—that is capable of handling more than 10,000 transactions a second, with fraud protection for consumers and guaranteed payment for merchants. Visa is not a bank, and does not issue cards, extend credit or set rates and fees for consumers. Visa’s innovations, however, enable its financial institution customers to offer consumers more choices: Pay now with debit, ahead of time with prepaid or later with credit products. For more information, visit www.corporate.visa.com.

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Source: Visa Inc.

Visa Inc.
Jennifer Doidge, 650-432-1052
The Axis Agency
Jessica Smith, 312-988-2203