J.G. Wentworth to Enter Prepaid Card Market

May 12, 2015, Written By Natalie Rutledge

The J.G. Wentworth Company, a structured settlement payments firm, has announced it will be partnering with FIS and MetaBank to establish a new prepaid debit card for its customers. FIS will act as the processor for the prepaid card, with MetaBank serving as the issuing bank.

The cards will be offered to current J.G. Wentworth customers in lieu of a paper check to give them more convenient access to their money.

Most people know the Pennsylvania-based J.G. Wentworth for its catchy, opera-themed commercials, where they promise “cash now” for structured settlements and annuities. The firm recently stepped into the personal lending sector, providing unsecured personal loans through a partnership with Avant. Prepaid cards mark yet another step into the financial world for J.G. Wentworth.

“Our partnerships with Visa, FIS, and MetaBank represent our continued progress towards becoming a diversified financial services company and sets the stage to bring our prepaid products to market,” said Greg Schneider, Executive Vice President and Chief Information Officer for the company.

While there are no specifics yet about the types of prepaid products J.G. Wentworth will be offering, the company says it plans to launch them in the third quarter of this year. Undoubtedly, there will be at least one card available for structured settlements and annuities, since that is how the company made its name. There may also be reloadable card options available through J.G. Wentworth’s newfound partnerships.

The information contained within this article was accurate as of May 12, 2015. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.

About Natalie Rutledge

Natalie Rutledge majored in Communications at Mississippi State University. She was in sales for a number of businesses and spent nine years working as a communications advisor to various entities. Natalie can be contacted directly at [email protected]
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