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WILMINGTON, Del.--(BUSINESS WIRE)-- The Bancorp Bank Payment Solutions Group, a division of The Bancorp Bank ("Bancorp"), a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), is pleased to announce that Paybefore has chosen the InsurCard Visa Prepaid Card, which is issued by The Bancorp Bank in collaboration with InsurCard, as a Paybefore Awards winner in the Best Business/Corporate-Funded Program: B2B.

Paybefore Awards, now in its fourth year, is the most prestigious recognition of excellence in the prepaid industry. The awards are presented annually by Prepaid Media, whose Paybefore publications are the leading source of industry information for the global prepaid community.

"We are honored to receive the Paybefore Award for the innovation of the InsurCard Visa Prepaid Card," said John Barbella, Senior Vice President, The Bancorp Bank. "We believe that prepaid cards will revolutionize the way the insurance industry makes payments as insurers seek ways to control payments and drive cost savings while providing enhanced customer care. We are very excited about the InsurCard program and we are anticipating rapid growth in this space."

InsurCard was selected by a panel of five industry experts who served as judges for this year's competition. A record number of entries from around the world were received.

"Paybefore applauds the leaders in our industry who are applying the flexibility and appeal of prepaid to innovate on behalf of consumers, governments and businesses," said Marilyn Bochicchio, Paybefore CEO and chair of the judging panel. "InsurCard has distinguished itself in a tough field of competition," she continued. "We are proud to recognize its contributions to advancing the use of prepaid products."

Issuing checks has become cumbersome in the world of electronic payments. The InsurCard offers great benefits for an injured worker or a displaced homeowner because they can begin using the funds immediately anywhere that Visa debit cards are accepted.

InsurCard, which has already been approved for use in workers compensation claims in 38 states, will vie for best-in-category distinction, which will be announced during the Paybefore Awards ceremony on Feb. 22 at the Prepaid Expo USA (www.prepaidexpousa.com).

InsurCard Visa Prepaid Card is issued by The Bancorp Bank pursuant to a license from Visa U.S.A. Inc.The Bancorp Bank; Member FDIC.

About The Bancorp Payment Solutions Group

The Bancorp Payment Solutions Group, a division of The Bancorp Bank, a wholly owned subsidiary of The Bancorp, Inc. (Nasdaq: TBBK), offers secure, creative and innovative payment solutions to the prepaid card industry. As a leading issuer of prepaid cards, The Bancorp Payment Solutions Group develops cutting-edge prepaid card programs that meet the rapidly changing needs of the prepaid industry. Through long-standing relationships with the card networks, leading program managers and processors, The Bancorp Payment Solutions Group designs compliant, innovative and flexible prepaid card programs which deliver outstanding results. For more information about The Bancorp Payment Solutions Group please visit www.thebancorppsg.com.

About InsurCard

InsurCard is a wholly owned subsidiary of Service Network Design, LLC (SND), a management consulting firm with corporate financial clients in both the insurance and prepaid card industries. InsurCard Prepaid Cards evolved from SND's experience in these industries where the need for new claim payment solutions was recognized. The InsurCard Prepaid Card was specifically designed to meet the stringent requirements of both the insurance and prepaid card industries. For more information about InsurCard, please visit www.insurcard.com or call 1-800-708-9887.

About Paybefore

Paybefore is the leading information provider to prepaid and stored value industry professionals, offering the latest news, commentary and analysis. Paybefore's family of industry publications include: Paybefore.com(TM), a searchable online information portal; Paybefore News(TM), daily news briefs delivered electronically; Paybefore News International(TM), a weekly compilation of prepaid news and events from outside the United States; Paybefore Update(TM), a downloadable enewsletter delivered 20 times a year; Paybefore Legal(TM), a downloadable enewsletter covering the legislative, regulatory and judicial developments in prepaid, as well as feature articles by leading attorneys in the field; Paybefore Magazine(TM), a biannual print publication highlighting the best of Paybefore; and Paybefore Buyer's Guide(TM), available online and in print. Visit us at www.paybefore.com.

    Source: The Bancorp Bank