Russell Simmons Launches New Pre-Paid Visa Card

Russell Simmons has launched UniRush Financial

Services, a new joint venture between Simmons’ Rush Communications and Unifund

Corporation, a leading leading buyer and seller of distressed debt and will

launch the Rush Prepaid Visa Card.

The new Rush Visa card will target people who

don’t have checking accounts or relationships with traditional banking institutions.

"Nearly 48 million Americans do not have

a banking relationship or access to traditional banking systems," Simmons

said. "These people don’t have bank accounts, and often pay exorbitant

check cashing and money transfer fees. The Rush Card and the services offered

by UniRush will help put money back in their pocket and put them on the path

to sound fiscal management."

UniRush has developed an "existing pool"

of potential users that they will market the card to. The user that doesn’t

have a checking account will be able to utilize direct deposit of income into

his or her account with UniRush and have access to the funds via the Visa Card.

"UniRush has created a unique service offering,

which is only possible through the type of complex electronic debit and prepaid

commerce systems we currently have in place," said Craig Marshall, chief

operating officer of Rush Communications. "Starting with the Rush Card,

we will introduce a host of new services over the coming months geared towards

improving the lives of unbanked Americans everywhere."

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