After some concerns Green Dot and Walmart have kissed and made up over the Walmart MoneyCard suite of prepaid reloadable debit card products. Green Dot Bank will continue to serve as the program manager and issuing bank of the Walmart cards.
The initial term of this new agreement is for five years. The new term has an effective start date of May 1, 2015 and will replace the current agreement which would have otherwise expired at the end of this year.
The Company says it launched the MoneyCard program with Walmart in 2007, and today it remains the largest and most prestigious General Purpose Reloadable prepaid card program in America.
Green Dot Corporation, along with its wholly owned subsidiary bank, Green Dot Bank, is a pro-consumer financial technology innovator with a mission to reinvent personal banking for the masses. Green Dot invented the prepaid debit card industry and is the largest provider of reloadable prepaid debit cards and cash reload processing services in the United States. Green Dot is also a leader in mobile technology and mobile banking with its award-winning GoBank mobile checking account.
Through its wholly owned subsidiary, TPG, Green Dot is additionally the largest processor of tax refund disbursements in the U.S. Green Dot’s products and services are available to consumers through a large-scale “branchless bank” distribution network of more than 100,000 U.S. locations, including retailers, neighborhood financial service center locations, and tax preparation offices, as well as online, in the leading app stores and through leading online tax preparation providers. Green Dot Corporation is headquartered in Pasadena, Calif., with additional facilities throughout the United States and in Shanghai, China.
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