updated 2/1/2011 12:46:43 PM ET 2011-02-01T17:46:43

AUSTIN, Texas, Feb. 1, 2011 (GLOBE NEWSWIRE) -- NetSpend Holdings, Inc. (Nasdaq:NTSP), a leading provider of general purpose reloadable prepaid debit cards and related financial services to underbanked consumers in the United States, today announced the launch of the company's second-generation iPhone application. Currently available as a free download through the Apple iTunes App Store, NetSpend cardholders now have the ability to send mobile person-to-person (P2P) payments to other NetSpend cardholders through their iPhones.

The new P2P functionality complements features found in the earlier version of the app: access to account and savings transaction histories; account and bank routing information; and a geo-locator for ATM and reload locations.

"One of the clear differentiators between NetSpend and other companies in the financial services space is our focus on developing an innovative and comprehensive user experience," said Dan Henry, chief executive officer at NetSpend. "Our iPhone app gives our cardholders another choice in how they decide to manage their financial lives."

The NetSpend iPhone app is the latest development in the company's effort to develop industry-leading technology that provides cardholders unparalleled access to their account through Web, IVR, Mobile, SMS, and now smart-phone applications.

About NetSpend

Austin-based NetSpend Corporation is a leading provider of general purpose reloadable prepaid debit cards and related financial services to underbanked consumers in the United States. We primarily focus on the estimated 60 million underbanked consumers in the U.S. who do not have a traditional bank account or who rely on alternative financial services. Our mission is to develop products and services that help unbanked consumers take the first steps toward a smarter way to spend, save and manage their money. More information on the company can be found on our website located at http://www.netspend.com or by following the company on Facebook or Twitter.

The NetSpend Holdings, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8154

CONTACT: Press Contacts:
         Brad Russell
         NetSpend
         512.539-5932 (office)
         brussell@netspend.com
         
         Suzanne Dawson
         Linden Alschuler & Kaplan, Inc.
         (212) 329-1420 (office)
         (908) 242-7162 (cell)
         Sdawson@lakpr.com

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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