Meta Payment Systems History

History

Meta Payment Systems (MPS) was built on the vision to promote financial inclusion for everyone. Founded in 2004 by president Brad Hanson and a small core team, MPS quickly developed a reputation as a leader in the prepaid industry.

2004 MPS, a division of MetaBank, is established in Sioux Falls, S.D.
2005 MPS is recognized as one of the premier financial institutions in the prepaid arena
2006 MPS completes two patent applications for software developed to support partner programs
At the end of the year, 500 banks representing 3,600 branch locations nationwide are selling gift cards through agreements with MPS
2007 At fiscal year-end, MPS supports partners by implementing more than 1,110 prepaid programs and issuing 35.7 million cards, increasing 94 percent and 49 percent, respectively, from 2006
2008 MPS delivers resoundingly on a primary initiative, which increases revenue 76 percent and adds 124 percent to non-interest income
2009 MPS achieves record growth, increasing fiscal-year revenue by 83 percent from 2008 to $86.8 million for 2009
MPS reaches billionth ACH transaction
MPS president Brad Hanson receives the Paybefore Industry Achievement Award
2010 MPS reaches 2 billionth ACH transaction
MPS increases fiscal-year revenue 23 percent from 2009 levels to $106.469 million for 2010
2011 The tough regulatory environment continues – despite discontinuance of its iAdvance and tax lending products, MPS's organic growth achieves its second-highest operating profit in its company's history
2012 MPS reaches 5 billionth ACH transaction
2013 MPS issues 400 millionth prepaid card
2014 MPS was released from its consent order and signs its first three new prepaid partners in nearly four years
MPS issues 500 millionth prepaid card
MPS has launched more than 3,000 prepaid programs since its inception
2015 MPS will surpass 7 billionth ACH transactions and 600 millionth prepaid cards since its inception
MPS's SVP and Chief Legal Officer named among the top payments lawyers in the industry by Paybefore