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Higher One and Green Dot Collaborate to Enable Cash Transfers to the OneAccount Suite
MONROVIA, Calif., Apr 27, 2011 (BUSINESS WIRE) -- Green Dot Corporation (NYSE: GDOT), a leading prepaid financial services company, today announced it has been chosen as the cash transfer partner for Higher One, Inc., a subsidiary of Higher One Holdings, Inc. (NYSE: ONE), a technology and payment services company. The Green Dot relationship will enable Higher One OneAccount customers to make convenient cash transfers into their accounts with the Green Dot MoneyPak(R).
The Higher One OneAccount offered through Higher One's bank partner, The Bancorp Bank, Member FDIC, enables students to receive their residual financial aid faster, manage their money online in relevant and responsible ways, and use a Debit MasterCard(R) to make purchases anywhere MasterCard is accepted. The Green Dot MoneyPak allows Green Dot cardholders and Green Dot partner customers to instantly transfer cash to other accounts, including the Higher One OneAccount. Green Dot MoneyPak is available at approximately 55,000 retail locations nationwide.
"We are pleased that Higher One has chosen Green Dot as a partner to enable cash transfers," said Mark Troughton, Green Dot's President, Cards and Network. "We are confident that Higher One's 1.6 million student account holders will find the same value and convenience that our millions of other customers do with the Green Dot MoneyPak."
"Based on an ongoing dialogue and valuable feedback from our customers, we are constantly expanding our offerings to help college students manage their money in responsible and convenient ways," said Dean Hatton, CEO of Higher One. "We specifically developed this new feature with Green Dot to help our customers easily transfer cash, increasing the convenience and value of the OneAccount suite."
Green Dot MoneyPak is the cash transfer partner of choice for more than 100 partner programs. MoneyPak is widely available at major retailers, including Walmart, Walgreens, CVS/pharmacy, Rite Aid and 7-Eleven.
About Green Dot
Green Dot is a leading prepaid financial services company providing simple, low-cost and convenient money management solutions to a broad base of U.S. consumers. Green Dot also owns and operates the Green Dot Network, the nation's leading prepaid card reload network. Green Dot products are available online at www.moneypak.com and www.greendot.com and at approximately 55,000 retail stores, including Walmart, Walgreens, CVS/pharmacy, Rite Aid, 7-Eleven, Kroger, Kmart, Meijer, and Radio Shack. Green Dot is headquartered in the greater Los Angeles area. For more details, visit www.moneypak.com.
About Higher One
Founded in 2000, Higher One, Inc., a subsidiary of Higher One Holdings, Inc. (NYSE:ONE), is a leading company focused on helping college business offices manage operations and provide enhanced service to students. Through a full array of services from refunds, payments, electronic billing, payment plans and more, Higher One works closely with colleges and universities to ensure students receive Financial Aid refunds quickly, can pay tuition and bills online, make on-campus and community purchases, and learn the basics of financial management.
Higher One provides its services to distinguished public and private higher education institutions throughout the country to approximately 5.3 million students. More information about Higher One can be found at higherone.com.
SOURCE: Green Dot Corporation