nFinanSe Inc. (OTCBB:NFSE) is once again helping struggling Americans by offering the “Lucky 777” program that allows its reloadable prepaid cardholders to set up free direct deposit with their employers. Employers will process cardholder direct deposits just like they process any other direct deposit. This cutting-edge program aims to rescue people from unnecessarily losing any of their hard-earned money to high-priced check cashing outlets that charge fees ranging from two to five percent of the check value.
“We’ve transformed our already low-cost card into a bank for the 73 million unbanked and underbanked,” says Jerry R. Welch, Chairman and CEO of nFinanSe, “One that keeps their money secure and doesn’t force them to sacrifice up to five percent of their paychecks. Think about it – for an hourly worker earning $500 every two weeks, that’s up to $25 of their paycheck, $50 each month that they would have to give up just to access their own money.”
“Lucky 777” is the latest way nFinanSe is helping the millions of Americans who either don’t have bank accounts or who are maxed out on their credit cards. Inspiring its name, cardholders who sign up for the direct deposit program automatically get $7.77 deposited onto their reloadable prepaid cards at the time of their first direct deposit from an employer.
“If you flip through a phone book in any city in this country, you’ll find more check-cashing locations than major fast food restaurants,” Mr. Welch points out. “Now, with our Reloadable Prepaid Card, all of these check cashing fees are a bad deal for consumers who are already hurting in these tough economic times. Our FREE direct deposit program helps alleviate this.”
Last year, nFinanSe launched the industry’s lowest cost, reloadable prepaid card in wide-spread, general distribution, the nFinanSe Discover® Network Reloadable Prepaid Card. The card is currently available at Dollar General locations nationwide, Winn-Dixie grocery stores and MAPCO Express Convenience Stores across the Southeast United States. It can be purchased for $5.95, carries a monthly maintenance fee of only $2.95, can be reloaded for $2.95 and offers FREE customer service and FREE text messaging of recent transactions and available card balance. That’s almost half of what competitors charge customers (as much as $9.95 - $14.95 for the purchase of a reloadable prepaid card, $4.95 in monthly maintenance fees, $4.95 to reload cards and as much as $2 for a customer service calls). Registered cardholders can easily sign up for the “Lucky 777” at www.nfinanse.com by entering the “Cardholder Login” with their nFinanSe Reloadable Prepaid Card.
About nFinanSe Inc.
nFinanSe Inc. is an innovative financial services company and provider of stored value and prepaid card solutions headquartered in Tampa, Florida. nFinanSe has developed the nFinanSe Network, a secure, reliable value load and activation platform that connects with retail merchants and other value load stations located throughout the United States.
“Safe Harbor” Statement under Private Securities Litigation Reform Act of 1995
This press release contains certain forward-looking statements based on nFinanSe Inc.’s, or, the Company’s current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements include statements regarding the Company’s expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words and include statements regarding the anticipated timing and benefits to the Company of the credit facility and the anticipated retail roll out of the Company’s products. Forward-looking statements in this release are based on information available to the Company as of the date hereof. The Company’s actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with the Company’s business, which include the Company’s ability to execute its business strategy and the other risk factors disclosed in the Annual Report on Form 10-KSB for the year ended December 29, 2007 on file with the Securities and Exchange Commission. The Company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
nFinanSe Inc., Tampa
Clare J. Morgan, 813-367-4400
cmorgan@nfinanse.com