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OnBudget Prepaid MasterCard© Named Winner in Eighth Annual Paybefore Awards

February 25, 2014

SAN DIEGO--(BUSINESS WIRE)-- Paybefore has selected OnBudget, Inc. as a 2014 Paybefore Awards winner in the One to Watch category. For eight years, Paybefore Awards has conferred the most prestigious recognition of excellence in the worldwide prepaid, mobile and emerging payments industry. The awards are presented annually by Paybefore, whose publications are the leading source of industry information for alternative payments executives.

“It’s an honor to be recognized by Paybefore as a winner in the One to Watch category,” said Jim Collas, President and CEO of OnBudget. "OnBudget is a personal budgeting tool based on a prepaid card platform and a mobile app that tracks transactions, spending categories, and budgets in real time. OnBudget is the only prepaid product specifically designed not to replace, but to complement users’ existing traditional bank accounts, offering significant added value to banked consumers.”

OnBudget was selected by a panel of five industry experts who served as judges for this year’s competition, which – once again – included a record number of entries from around the world.

“An industry is only as good as its innovators. This year’s Paybefore Awards have demonstrated that prepaid, emerging and mobile payments companies always find new ways to address consumer, government and business needs,” said Loraine DeBonis, Paybefore editor-in-chief and chair of the judging panel. “We are proud to recognize OnBudget’s contributions to advancing the industry.”

Helping define the emerging “prepaid budget card” product category, OnBudget’s personal finance management program was designed specifically to work in conjunction with users’ existing checking and savings accounts. Founded by seasoned executives with both high-tech consumer product experience and extensive experience in launching innovative prepaid card programs, OnBudget makes it easy for users to be successful with budgeting some of the toughest transactions to manage – daily living expenses.

“The OnBudget platform allows our banking partners to more effectively tap into the prepaid market by offering OnBudget as a bank account companion card that brings clear value to the banked consumer,” continued Mr. Collas. “Banked consumers are now the largest prepaid market segment, yet many banks are struggling to launch successful prepaid programs. This is because banks are not currently offering prepaid products that bring clear value to their customer base.”

OnBudget will now vie for Best-in-Category distinction, which will be announced during the Paybefore Awards ceremony on March 4 at the All Payments Expo. For the second year, visitors to Paybefore.com had a chance to vote on Best in Category. The outcome of this vote (counted as one-sixth of the total) will be combined with the five judges’ picks to determine Best-in-Category honorees.

For more information, please visit: www.OnBudget.com.

About OnBudget, Inc.

The OnBudget budgeting solution consists of a reloadable prepaid MasterCard and associated smartphone app that enables an unprecedented level of simplicity and effectiveness in managing monthly household spending and budgets. The OnBudget prepaid card addresses a new emerging “prepaid budget card” product category that does not seek to replace, but complements users’ bank accounts and credit cards. The OnBudget solution is optimized for easy budget management, tracking spending trends and giving the user valuable savings insights.

The OnBudget Prepaid MasterCard is issued by Sunrise Banks, N. A., Member FDIC, pursuant to a license by MasterCard International Incorporated. MasterCard and the MasterCard brand mark are registered trademarks of MasterCard International Incorporated.

About Paybefore: Paybefore is the leading information provider to prepaid, mobile and emerging payments industry professionals, offering the latest news, commentary and analysis. Paybefore’s family of industry publications includes: Paybefore.com; Pay NewsTM; Pay GovTM; Pay WeekTM; Pay Op-EdTM; Pay MagazineTM, a biannual print publication featuring in-depth articles on the opportunities, challenges and trends in the global payments industry; and the only industry directory, Pay ConnectTM buyer’s guide, available online and in print. Visit us at www.paybefore.com.

About Sunrise Banks.

Sunrise Banks, a family-owned, nationally-chartered bank based in St. Paul, Minnesota with assets of more than $750 million, is certified by the US Treasury as a Community Development Financial Institution (CDFI), a designation given to only 78 banks nationwide. Sunrise is the only CDFI Bank in Minnesota and one of fourteen nationally chartered CDFI Banks in the country. Guided by its mission to be “The Most Innovative Bank Empowering the Underserved to Achieve,” Sunrise is also one of 25 members of the Global Alliance for Banking on Values and is a certified B Corp for its commitment to transparent corporate governance and positive community impact. The Bank has been honored as one of 40 U.S. companies included on the “Good Company Project” list, honoring businesses dedicated to social and economic development, and as “Overall Best for the World” by the nonprofit B lab, one of only 67 high-impact companies in 20 countries honored for improving the quality of life throughout their communities.





OnBudget, Inc.

Sunny Zobel, 360-836-5766

sunny@onbudget.com

Source: OnBudget, Inc.


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