Netspend has landed a 20-year prepaid industry veteran in Jeff Johnson to manage the financial services provider’s commercial prepaid channel, the company announced March 2. The freshly minted senior vice president for commercial prepaid will oversee Netspend’s programs for paycards, incentives, disbursements and awards, as well as the Tip Network, which serves businesses whose employees supplement their incomes with tips.
Johnson joins the Pay Award-winning company during a time of diversification, which TSYS CEO Troy Woods discussed during the parent company’s earnings call with investors. In addition to a demand deposit account for consumers coming later this year, Netspend has launched a small business prepaid product for sole proprietors, which is available in 7-Eleven, select Office Depot stores and online. Netspend reported $34.8 million in operating income for the fourth quarter ended Dec. 31, a 21.7 percent increase compared with the same period a year ago.
“I’m thrilled to join a team committed to helping our partners grow their businesses and take care of their employees,” said Johnson. “We offer so much more than paycards, and I know Netspend’s dedication to creativity and collaboration will bring us opportunities to succeed and grow.”
Johnson previously was hired in 2012 by prepaid compliance specialty company Card Compliant as chief sales and marketing officer. He also served as senior vice president and division manager for prepaid services at First Data Corp. Johnson has served on the board of the NBPCA for the last five years.
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