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About Meta Payment Systems®, a Division of MetaBank

Meta Financial Group® is the bank holding company for MetaBank, MetaBank West Central and Meta Trust Company®. MetaBank is a federally-chartered savings bank with four market areas: Northwest Iowa Market, Brookings Market, Central Iowa Market, Sioux Empire Market; and Meta Payment Systems division. MetaBank West Central is a state-chartered commercial bank in the West Central Iowa Market.

The company, founded in 1954, converted from mutual ownership to stock ownership in 1993 and can be found on the NASDAQ NM: CASH. For more information on Meta Financial Group, please visit http://www.metacash.com

 

The nationally recognized Meta Payment Systems division (MPS) was formed in May 2004 to position MetaBank to take advantage of opportunities in the area of prepaid debit cards, credit cards and related payment systems and services. As a principle member of MasterCard, Visa, Discover and the regional debit networks, MPS serves banks, processors, and third party marketers by providing card issuance, ACH origination, merchant acquiring, network sponsorship for white label ATMs, money transfer, and turn-key gift card solutions.

MPS plays an active role in the rapidly changing legal landscape. They believe that quality products are necessary to ensure safety and compliance in the expanding prepaid industry. To that end, they work within the rules to promote compliance with all applicable laws, rules, and regulations in a manner that is least likely to hinder growth. MPS currently employs over thirty people who work in Risk, Compliance, Client Services, Business Development, Operations and other functions.

FDIC Insurance is provided for all re-loadable prepaid programs at MPS. They also maintain adequate reserve ratios against these deposits according to Reg. D requirements. By taking this approach they can control the impact of restrictions imposed by Visa, MasterCard and regulators on other banks in the prepaid business. That means they have more capacity to support the growth of your programs.

More information on MPS can be found at http://www.metapay.com