American Banker 2/21/2013: Once the redheaded stepchild of consumer banking, the prepaid card business now looks more like the industry’s future. The prepaid sector’s maturation got further affirmation this week with the announcement that Total System Services (TSS) had agreed to acquire NetSpend Holdings (NTSP) for $1.4 billion. The deal’s price tag is notable — a 26% premium over NetSpend’s stock price at the end of last week — but perhaps even more telling was the identity of the buyer. TSYS is a well-established payments processor that wanted a piece of the fast-growing prepaid market, despite the fact that it has little experience dealing directly with consumers.
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Source: Paymentspulse

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