3PEA International, a provider of prepaid card programs, has signed an agreement with Visa under which 3PEA will exclusively issue Visa-branded prepaid cards for its PaySign brand of prepaid cards.
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Mark Newcomer, chairman and CEO of 3PEA, said: "We are excited to formally create a partnership with Visa, and view their support as a tremendous vote of confidence for both 3PEA and the PaySign brand. 3PEA has had a long and successful partnership with Visa, and this agreement further solidifies our relationship.
"Partnering with Visa was a simple decision on our part, as they are the recognized world leader in global payments technology. With Visa providing marketing support as we roll out our PaySign brand of prepaid cards, we are optimistic regarding our growth in new verticals and increasing our market share in existing verticals."
Cecilia Frew, head of prepaid products at Visa, said: "Visa prepaid cards provide a safe and convenient alternative to cash or checks. They also offer lower disbursement costs and increased operational efficiencies, making them a good choice for government agencies, businesses and consumers.
"The agreement with 3PEA is part of our strategy to extend the benefits of Visa prepaid cards to a broader public and give people more control over their money – anywhere, anytime."
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