By Business Wire, October 07, 2013, 09:28:00 AM EDT
WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp, Inc. ("The Bancorp") (NASDAQ:TBBK), today announced a new
relationship with TFG Card Solutions, a leader in payroll card services.
As a result of the newly formed relationship, The Bancorp will issue
payroll cards to TFG's 2,000 client employers in various industries all
over the country.
Employees without a bank account will be provided with the TFG
Payroll Card to receive their paycheck electronically. Since 2004,
TFG has offered US employers payroll cards to increase direct deposit
participation. Payroll cards provide unbanked employees a safe, secure,
and convenient way to access their funds 24/7/365.
"We are excited to announce our relationship with TFG, a leader in the
paycard space, at a time when consumer demand and adoption for this
product continues to increase. The TFG Payroll Card program is a
wonderful alternative to receiving a paper check. We believe that the
strength and commitment of The Bancorp will greatly enhance the TFG
offering," stated Jeremy Kuiper, Managing Director of The Bancorp's
Payment Solutions group.
"Our decision to select The Bancorp as our newest issuing bank partner
was an easy one. As a proven industry leader, The Bancorp is uniquely
positioned to offer premium features, and support to our clients and
cardholders. Unbanked and under-banked segments of the U.S. population
continue to grow, driving significantly increased demand for our payroll
card services. With The Bancorp's capabilities, expertise in the prepaid
space, and focus on best in class practices, we are well positioned to
accelerate our growth initiatives through our strategic partnership to
service a rapidly expanding marketplace." ~Tom Secor, President, TFG
Card Solutions, Inc.
TFG Payroll Cards are issued by The Bancorp Bank. The Bancorp Bank;
About The Bancorp Payment Solutions
The Bancorp Payment Solutions is a highly specialized group within The
Bancorp and is the leading issuer of network branded prepaid cards.
Through long-standing relationships with card associations, industry
leading networks and processors The Bancorp consistently delivers
cutting-edge, innovative programs that are re-shaping the payments
landscape. For more information about how The Bancorp's Payment
Solutions group is "Changing the Way the World PaysTM" visit www.thebancorp.com.
About TFG Card Solutions, Inc.
TFG offers payroll
card solutions that help businesses of all sizes increase direct
deposit participation, maximizing their current direct deposit system
and empowering unbanked employees. Payroll
cards save both the business and its employee's money every single
pay period. For more information, visit www.tfgcard.com.
Source: The Bancorp, Inc.