MetaBank® Joins U.S. Faster Payments Council

SIOUX FALLS, S.D., July 29, 2020 /PRNewswire/ -- MetaBank^® today announced it has joined the U.S. Faster Payments Council ("FPC"). MetaBank, N.A. ("Meta") is committed to leading the enablement of payments technology, and this announcement marks its latest expansion within the faster payments space. Meta is a federally chartered bank, a subsidiary of Meta Financial Group, Inc.^® (Nasdaq: CASH) and a leader in providing innovative financial solutions to consumers and businesses throughout the country. The Faster Payments Council is an inclusive membership organization devoted to advancing faster payments in the United States.

A leading provider of payments services, MetaBank launched its faster payments platform in 2019. The platform has since grown to include Visa Direct and Mastercard Send alongside ACH origination, wire transfers and more. As a member of the FPC, Meta will have the opportunity to work with other industry leaders to influence the path to faster payments ubiquity.

"We are excited to join the Faster Payments Council, and to work alongside its members to drive the future of faster payments," said Sheree Thornsberry, Meta EVP and Head of Payments. "We know faster payments are truly a win-win for businesses and consumers. For our partners, faster payment methods have created real opportunity, ultimately enabling businesses to grow, be more efficient and issue payments more quickly, while responding to consumer demand. In fact, we recently conducted research showing that 47% of consumers would be more willing to do business with a company that offers faster payment options.ⁱ"

Through this membership, Meta's partners will gain access to the latest faster payments news and information, implementation support and education, and benefit from Meta's participation on work groups and committees as wellas from its role in shaping the future of faster payments.

"A key goal of the Faster Payments Council is to make ubiquitous faster payments a reality for all," said Reed Luhtanen, FPC Executive Director. "Meta has a robust legacy in payments and is a known leader in providing innovative financial solutions to consumers and businesses. We are thrilled to have Meta join the Council to collaborate with other industry leaders as we work to grow faster payments awareness and adoption."

About MetaBank, N.A.
MetaBank^®, N.A., a federally chartered bank ("Meta"), is a subsidiary of Meta Financial Group, Inc.^® (Nasdaq: CASH), a South Dakota-based financial holding company. Meta is a leader in providing innovative financial solutions to consumers and businesses in under-served niche markets and believes in financial inclusion for all. Meta's commercial lending division works with high-value niche industries, rapid-growth companies and technology adopters to grow their businesses and build more profitable customer relationships nationwide. Meta is one of the largest issuers of prepaid cards in the U.S., having issued more than a billion cards in partnership with banks, program managers, payments providers and other businesses, and offers a total payments services solution that includes ACH origination, wire transfers, and more. For more information, visit the MetaBank website.

About the U.S. Faster Payments Council ("FPC")
The FPC is an industry-led membership organization whose mission is to facilitate a world-class payment system where Americans can safely and securely pay anyone, anywhere, at any time and with near-immediate funds availability. By design, the FPC encourages a diverse range of perspectives and is open to all stakeholders in the U.S. payment system. Guided by principles of fairness, inclusiveness, flexibility, and transparency, the FPC uses collaborative, problem-solving approaches to resolve the issues that are inhibiting broad faster payments adoption in this country. For more information, please visit FasterPaymentsCouncil.org.

Investor Relations:
Brittany Kelley Elsasser
Director of Investor Relations
605-362-2423
[email protected]

Media Relations:
[email protected]

ⁱ MetaBank, "Faster Payments: What Consumers Want from Businesses in 2019"
https://www.metabank.com/lp/faster-payments-a-business-growth-opportunity-infographic

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SOURCE Meta Financial Group, Inc.

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