By Katanga Johnson
WASHINGTON (Reuters) - MetaBank (O:CASH), Fiserv (O:FISV) win U.S. Treasury contract to issue VISA (N:V) pre-paid cards loaded with coronavirus stimulus payments, according to two people familiar with the matter.
The move by the Treasury to tap pre-paid card issuers comes after industry groups pushed for the agency's Internal Revenue Service to allow this pre-paid form of stimulus payments, which is designed to help millions of Americans struggling due to coronavirus lockdowns.