PASADENA, Calif.--(BUSINESS WIRE)--Apr. 18, 2016--
Green Dot Corporation (NYSE:GDOT) today announced that the company’s
MoneyPak reload product is now available for purchase at retailers
nationwide. The return of MoneyPak to store shelves in the first half of
2016 fulfills one of Green Dot’s initiatives in its publicly stated “Six
Step Plan to achieve $1.75 in non-GAAP EPS in 2017.”
MoneyPak can be purchased by the consumer and rung up by the cashier in
the same way as any Green Dot product. Then, the consumer visits MoneyPak.com
to redeem the value on the MoneyPak and load the funds onto any eligible
prepaid card. The product started rolling out to Green Dot’s network of
retail locations this month, beginning with Rite Aid and Kroger stores,
and will continue to rollout in additional retailers throughout the year.
“With the return of MoneyPak to store shelves, prepaid cardholders from
any of the approximately 300 programs that are part of our reload
network can once again use MoneyPak to reload their own prepaid accounts
or those of family members, children away at school, or remote workers,”
said Steve Streit, Green Dot Chairman and Chief Executive Officer.
“Consumer demand for MoneyPak was always strong as it was one of our
best selling products prior to its sales being suspended while we
designed a new system for mitigating the potential for misuse of the
product. With that new system now in place, our goal is to fulfill the
same consumer demand that fueled the product’s original popularity, but
in a way that’s better controlled and monitored.”
Features available with the MoneyPak include:
-
A Low Cost Way to Reload Money to a Family or Friend’s Card –
Customers can load $20-500 onto a family or friend’s card for just
$5.95.
-
A Convenient Alternative to Reload @ the Register – Need to
reload your own card but forgot it at home? MoneyPak can be a
convenient alternative and save customers a second trip back to the
store.
-
Reload while on the Go - MoneyPak is mobile-enabled. Just
complete a one-time registration on MoneyPak.com
and have your MoneyPak number handy to reload on the go.
-
Use MoneyPak with More Than 300 Card Programs – Use MoneyPak to
easily load cash to any of the 300+ prepaid card programs currently on
the Green Dot Network.
About Green Dot Corporation
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.
Forward-Looking Statements
This press release may be deemed to contain forward-looking statements,
which are subject to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Actual results may differ
materially from those contained in the forward-looking statements
contained in this press release. The potential risks and uncertainties
that could cause actual results to differ from those projected include,
among other things, the timing and impact of revenue growth activities,
the Company's dependence on revenues derived from Walmart and three
other retail distributors, impact of competition, the Company's reliance
on retail distributors for the promotion of its products and services,
demand for the Company's new and existing products and services,
continued and improving returns from the Company's investments in new
growth initiatives, potential difficulties in integrating operations of
acquired entities and acquired technologies, the Company's ability to
operate in a highly regulated environment, changes to existing laws or
regulations affecting the Company's operating methods or economics, the
Company's reliance on third-party vendors, changes in credit card
association or other network rules or standards, changes in card
association and debit network fees or products or interchange rates,
instances of fraud developments in the prepaid financial services
industry that impact prepaid debit card usage generally, business
interruption or systems failure, and the Company's involvement
litigation or investigations. These and other risks are discussed in
greater detail in the Company's Securities and Exchange Commission
filings, including its most recent annual report on Form 10-K and
quarterly report on Form 10-Q, which are available on the Company's
investor relations website at ir.greendot.com and on the SEC website at www.sec.gov.
All information provided in this press release is as of April 18, 2016
and the Company assumes no obligation to update this information as a
result of future events or developments.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160418006661/en/
Source: Green Dot Corporation
for Green Dot Corporation
Investor:
626-765-2427
IR@greendot.com
or
Media:
Brian
Ruby, 203-682-8268
PR@greendot.com