nFinanSe Matches Wal-Mart Price for Reloadable Prepaid Cards

The Company stated that it believes that this reduction in price has the potential to ignite consumer interest in reloadable prepaid cards and encourage the trial and usage among the 73 million Americans who are cash based and who do not have a traditional banking relationship.

After the price change, nFinanSe will offer its Reloadable Cards through major retailers with a $3.00 initial sales price, and continue its low $2.95 monthly maintenance fee, $2.95 reload fee, FREE 24/7 customer service and FREE direct deposit. Jerry R. Welch, Chairman and CEO of nFinanSe, said, "Although there are 73 million American consumers in need of a reloadable prepaid card, there are substantially less than 10 million active cardholders nationally. We believe that this is a direct result of the high fees that most reloadable prepaid cards have carried: $9.95 initial sales price, $4.95 monthly maintenance fee and $4.95 reload fee."

Mr. Welch continued, "Our goal is to price our product in a way that encourages mass market trial and usage. As a former retailer myself, I understand that retailers feel that they have an obligation to provide choice and selection for their customers. We want to provide to major retailers a comparably priced product to Wal-Mart's reloadable prepaid card so that they can incorporate it into the mix of prepaid cards they offer their customers."

Analysts predict a doubling of the reloadable prepaid marketplace from $7 billion currently to $14 billion in 2011, driven by greater penetration of the unbanked/underbanked population as well as increasing acceptance by individuals who find themselves maxed out on their credit cards and in need of an electronic payment tool for use in online and catalog shopping.

Mr. Welch concluded, "In the last few weeks, we have announced initiatives to provide valuable consumer coupons to our cardholders on their mobile phones through a collaboration with RocketBux(R), a $7.77 incentive for having cardholders directly deposit their paycheck on our Reloadable Prepaid Card and now a reduction in the retail sales price of our card. We are focused on creating a mass-market reloadable prepaid card, which we hope will empower millions of Americans by allowing them to participate fully and more effectively in our consumer economy."

nFinanSe's Discover(R) Network branded Reloadable Prepaid Cards are currently available at approximately 10,000 retail stores nationwide including Dollar General, Winn-Dixie and Mapco Express Convenience Stores.

About nFinanSe Inc.

nFinanSe Inc. is an innovative financial services company and provider of stored value and prepaid card solutions headquartered in Tampa, Florida. nFinanSe has developed the nFinanSe Network, a secure, reliable value load and activation platform that connects with retail merchants and other value load stations located throughout the United States.

When applicable the nFinanSe Reloadable Prepaid Card is issued by Palm Desert National Bank or other issuing banks pursuant to a license from Discover(R) Network.

"Safe Harbor" Statement under Private Securities Litigation Reform Act of 1995

This press release contains certain forward-looking statements based on nFinanSe Inc.'s, or, the Company's current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements include statements regarding the Company's expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," "will," and "would" or similar words and include statements regarding the anticipated benefits of the Company's products and the anticipated retail roll out of the Company's products. Forward-looking statements in this release are based on information available to the Company as of the date hereof. The Company's actual results may differ materially from those stated or implied in such forward-looking statements due to risks and uncertainties associated with the Company's business, which include the Company's ability to execute its business strategy and the other risk factors disclosed in the Annual Report on Form 10-K for the year ended January 3, 2009 on file with the Securities and Exchange Commission. The Company assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

SOURCE: nFinanSe Inc.

nFinanSe Inc., Tampa 
Clare J. Morgan, 813-367-4400 
cmorgan@nfinanse.com