Company’s Industry-Leading Commitment to Transparency and Consumer
Protection Aligns with Visa’s New Guidelines for Reloadable Prepaid Cards
PASADENA, Calif.--(BUSINESS WIRE)--Jun. 6, 2014--
Green Dot Corporation (NYSE:GDOT) today announced its support of Visa’s recently
announced designation for consumer reloadable prepaid products in
the U.S. The new designation is aimed at simplifying fees, improving
consumer protections and creating opportunities for cardholders to
improve their financial health. Green Dot Corporation is the largest
provider of reloadable prepaid debit cards in America with its products
sold in more than 90,000 retail locations nationwide.
“Visa has chosen guidelines for their designation that align perfectly
with how Green Dot has always structured our fee plans,” said Steve
Streit, Green Dot’s Chairman and CEO. “We believe it's important for the
prepaid card industry to provide affordable, fair products with clear
and easy to understand fee disclosures. We applaud Visa's announcement
and hope to see the rest of the industry adopt these guidelines."
To qualify for the new Visa prepaid designation, prepaid programs must
meet a set of standards outlined by Visa that relate to simplified fees
and transparent disclosures as well as superior consumer protections.
Cards that meet these requirements will receive a seal that will be
visible on card packaging and materials.
Green Dot issues and manages multiple prepaid card programs, including
the award-winning Green Dot Everyday Gold Prepaid Visa, which was named
“Best Card for Alternative Checking Account” in Card Hub’s 2013
Prepaid Cards Report.
About Green Dot
Green Dot Corporation is a technology-centric, pro-consumer Bank Holding
Company with a mission to reinvent personal banking for the masses. The
company is the largest provider of prepaid debit card products and
prepaid card reloading services in the United States, as well as a
leader in mobile banking with its GoBank mobile bank account offering.
Green Dot Corporation products are available to consumers at more than
90,000 retailers nationwide, online and via the leading app stores. The
company is headquartered in Pasadena, California with its bank
subsidiary, Green Dot Bank, located in Provo, Utah.
Source: Green Dot Corporation
Investor Relations
Green Dot Corporation
Christopher Mammone,
626-765-2427
IR@greendot.com
Or
Media
Relations
ICR for Green Dot Corporation
Brian Ruby,
203-682-8268
PR@greendot.com