Bancorp Bank of Wilmington, Del., said Monday that it has agreed to issue prepaid card programs for Swift Prepaid Solutions.
Swift, based in Buffalo Grove, Ill., was founded in 1996 and now issues incentive and payment cards for Visa Inc., MasterCard Inc., Discover Financial Services LLC and American Express Co.
Bancorp Bank is the online commercial banking unit of the $3 billion-asset Bancorp Inc. and has more than 300 private-label affinity partner programs. Its payments unit, Bancorp Bank Payment Solutions, issues prepaid cards for various companies. Some of its other customers include insurer Ace Ltd., which offers prepaid cards to policyholders affected by natural disasters, and music mogul Russell Simmons, who is behind the prepaid RushCard.