10-7-13 9:28 AM EDT | Email Article

The Bancorp, Inc. ("The Bancorp") (NASDAQ: TBBK), today announced a new relationship with TFG Card Solutions, a leader in payroll card services. As a result of the newly formed relationship, The Bancorp will issue payroll cards to TFG’s 2,000 client employers in various industries all over the country.

Employees without a bank account will be provided with the TFG Payroll Card to receive their paycheck electronically. Since 2004, TFG has offered US employers payroll cards to increase direct deposit participation. Payroll cards provide unbanked employees a safe, secure, and convenient way to access their funds 24/7/365.

"We are excited to announce our relationship with TFG, a leader in the paycard space, at a time when consumer demand and adoption for this product continues to increase. The TFG Payroll Card program is a wonderful alternative to receiving a paper check. We believe that the strength and commitment of The Bancorp will greatly enhance the TFG offering," stated Jeremy Kuiper, Managing Director of The Bancorp’s Payment Solutions group.

“Our decision to select The Bancorp as our newest issuing bank partner was an easy one. As a proven industry leader, The Bancorp is uniquely positioned to offer premium features, and support to our clients and cardholders. Unbanked and under-banked segments of the U.S. population continue to grow, driving significantly increased demand for our payroll card services. With The Bancorp's capabilities, expertise in the prepaid space, and focus on best in class practices, we are well positioned to accelerate our growth initiatives through our strategic partnership to service a rapidly expanding marketplace.” ~Tom Secor, President, TFG Card Solutions, Inc.

TFG Payroll Cards are issued by The Bancorp Bank. The Bancorp Bank; Member FDIC.

About The Bancorp Payment Solutions

The Bancorp Payment Solutions is a highly specialized group within The Bancorp and is the leading issuer of network branded prepaid cards. Through long-standing relationships with card associations, industry leading networks and processors The Bancorp consistently delivers cutting-edge, innovative programs that are re-shaping the payments landscape. For more information about how The Bancorp’s Payment Solutions group is “Changing the Way the World PaysTM" visit www.thebancorp.com.

About TFG Card Solutions, Inc.

TFG offers payroll card solutions that help businesses of all sizes increase direct deposit participation, maximizing their current direct deposit system and empowering unbanked employees. Payroll cards save both the business and its employee’s money every single pay period. For more information, visit www.tfgcard.com.

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Morningstar - 2013/10/7 - The Bancorp Teams Up with TFG Card Solutions to Provide Payroll Card Programs
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