IPower Prepaid Card Lifts Jackson Hewitt's Q1 Revenues

Published September 04, 2009, 1:00 a.m. EDT

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Updated September 04, 2009, 12:00 a.m. EDT

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Jackson Hewitt Tax Service Inc.'s iPower, Visa-branded reloadable prepaid card lifted the tax preparer's first-quarter fiscal 2010 revenues for its franchise operations. Jackson Hewitt's franchise operations reported first-quarter revenues of $4.5 million, up 15% compared with $3.9 million for the same three-month period in 2009. "The increased revenues versus last year's first quarter primarily resulted from the use of the Jackson Hewitt iPower card," Parsippany, N.J.-based Jackson Hewitt said in a statement. Jackson Hewitt customers can download their paychecks and government funds - unemployment, Social Security, Veterans benefits - onto the card. Jackson Hewitt's fiscal first quarter ended July 31.

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