Parago Announces Strategic Partnership to Enhance Prepaid Services

Partnership with FSV Payment Systems and Meta Payment Systems Enables Turnkey Customer Service and Single Point of Contact DALLAS, July 31 /PRNewswire/ -- Parago, Inc., the leading industryinnovator in technology-driven rebate, incentive and promotion solutions,today announced FSV Payment Systems has been selected as a strategicpartner for prepaid services. In the newly formed partnership, FSV PaymentSystems will manage prepaid card processing while their partner, MetaPayment Systems will provide issuing bank services. This announcement is a pivotal step as Parago continues to expand itsprepaid and promotional services solution offerings. This strategicdecision will allow Parago to offer their clients an integrated, one-stopsolution for comprehensive rebate, incentive and promotional programs. "After completing a rigorous selection process, we are confident thatour selection of FSV Payment Systems and their partner, Meta PaymentSystems, has created an unmatched partnership of strengths for prepaid cardservices," said Juli Spottiswood, president and CEO of Parago, Inc. andBoard Member and Treasurer of the Network Branded Prepaid Card Association(NBPCA). "FSV has the caliber of experience, commitment and service levelsas well as advanced technology and operational processes that mirrors thequality that Parago provides its customers." FSV's leadership team, headed by Jon Palmer, CEO, has hundreds of yearsof cumulative experience in financial services and electronic payments. AtFSV, prepaid cards are viewed as an extended marketing opportunity versussimply payment vehicles. According to Spottiswood, the selection of FSV wasbased on their partnership approach, experience in delivering highlycustomized prepaid programs, the robustness of their technology platform,and their commitment to innovation in the prepaid industry. "We are delighted to have been selected by Parago to be theirprocessing partner," said Jon Palmer, CEO of FSV Payment Systems. "We shareParago's commitment to client and cardholder service and we look forward tohelping Parago use FSV's robust prepaid card processing capabilities tocreate new and exciting rebate and incentive offers for Parago clients." In addition to their years of industry experience, FSV Payment Systemsbrings a solid relationship with Meta Payment Systems, who will beproviding issuing bank services for Parago's prepaid card programs. MetaPayment Systems is the leading issuer of prepaid Visa, MasterCard, andDiscover cards. "We are thrilled that FSV Payment Systems has been selected to beParago's processing partner. Parago has been extremely active in working tomove the rebate and promotions industry from checks to prepaid cards and welook forward to supporting FSV as they help Parago capitalize on thateffort," said Brad Hanson, President of Meta Payment Systems. To reinforce its commitment to the prepaid space, Parago has alsoannounced Matt Kerper as Vice President of Prepaid Services. Matt joinsParago from Trycera Financial, where he was president and CEO. With overten years in the prepaid market, Matt has developed extensive industryrelationships with various associations, issuing banks, and processors. Hebrings solid, first-hand experience in the development, deployment andmanagement of major network branded prepaid programs from both TryceraFinancial, a premier Stored Value Program Management firm and Green Dot, aleading provider of retail based financial services for the underservedcommunity. About Parago Parago, Inc. is an industry-leading promotional services companyserving hundreds of clients in an array of business-to-consumer andbusiness-to-business markets. Founded in 1999, the company leveragesinnovative technology to create efficient and flexible promotion, incentiveand rebate programs. Parago's executive leadership comprises more than 200years of marketing, technology and client service experience to set newindustry standards in service and innovation that produce meaningful,measurable promotional results for clients. For more information, visithttp://www.parago.com. About FSV Payment Systems FSV Payment Systems is a leader in the stored-value and prepaid debitcard industry, providing full-service programs and processing services.Founded in 1999, the company has extensive experience in payroll andbenefit cards, loyalty, incentives and promotions, healthcare and giftcards. The Company is headquartered in Houston, Texas and operates astate-of-the-art Client Operations Center in Jacksonville, Florida. Formore information visit http://www.fsvpaymentsystems.com. About Meta Payment Systems Meta Payment Systems, a division of MetaBank, offers card issuing andprogram support to banks, processors, and third-party distributors seekingto develop, market, and manage stored-value cards and credit products. MetaFinancial Group, Inc. (Nasdaq: CASH) is the holding company for MetaBank, afederally-chartered savings bank. For more information visithttp://www.metacash.com.