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The African American-themed cable channel is partnering with NetSpend, one of the biggest prepaid card companies, in hopes of targeting millions of black Americans who don’t use banks. NetSpend, meanwhile, is looking for the partnership to convert BET viewers into fee-paying customers, reports the AP.

About 22 percent of black households don’t have bank accounts, compared with 3 percent for whites, according to a 2009 study by the Federal Deposit Insurance Corp. Prepaid cards are like debit cards but aren’t attached to a checking account and sometimes lack the consumer protections offered by debit and credit cards. They are the fastest-growing electronic payment method, according to a 2010 study by the Federal Reserve.

“There are so many people still using check-cashing services, so many people paying exorbitant bank fees, so many people who are managing their financial affairs solely on a cash basis,” said Scott Mills, BET’s president and chief operating officer.Black celebrities have already endorsed cards that compete for a slice of the market. They include hip-hop mogul Russell Simmons’ RushCard, radio host Tom Joyner’s Reach Card and rapper Lil Wayne’s Young Money Card.

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