AccountNow Wraps up nFinanSe Acquisition (Dec. 6, 2012)
Dec. 6, 2012
Prepaid card company AccountNow has finalized its previously announced purchase of nFinanSe Inc., a Tampa, Fla.-based provider of prepaid cards distributed via retail stores. The move gives San Ramon, Calif.-based AccountNow, which distributes its GPR cards online, a strong presence in the in-store distribution channel.
“[nFinanSe’s] capabilities in retail distribution are highly complementary to our existing direct-to-consumer capabilities with virtually no overlap,” said AccountNow CEO Jim Jones. “This strategic combination instantly expands our retail distribution to an additional 15,000-plus locations.” Existing nFinanSe card will continue to function as before the acquisition, AccountNow said, and cardholders still will be able to access their account information at the nFinanSe Website. nFinanSe will maintain operations in Tampa.
In June 2011, AccountNow bolstered its online GPR distribution efforts by merging with Nampa, Idaho-headquartered Ready Financial Group.