Expanded Relationship with the Green Dot Network Enables Walmart
Rapid Reload as a Funding Option for MasterCard rePower Users
PURCHASE, N.Y. & PASADENA, Calif.--(BUSINESS WIRE)--Nov. 22, 2013--
MasterCard (NYSE:MA) and Green Dot (NYSE:GDOT) today announced an
expanded relationship that allows all U.S. cardholders with MasterCard ®
rePower™-enabled prepaid cards to reload their cards via the Walmart
Rapid Reload™ service.
Walmart Rapid Reload utilizes the Green Dot® Network to provide
cardholders with a fast and easy way to load funds directly to their
cards by swiping their cards at any register at participating Walmart
stores (not available in VT or WY). Cardholders can add funds directly
to their prepaid account by using cash or a pre-printed payroll or
government check. Cashier-added funds will be available for use by
MasterCard rePower-enabled cardholders within minutes.
“The Green Dot Network strives to bring convenient and cost-effective
loading options to our prepaid debit card partners by leveraging our
relationships with our major retailers,” said Kostas Sgoutas, Chief
Revenue Officer, Green Dot. “By providing more funding options, we are
creating a better experience for the consumer, helping our prepaid
partners achieve their goal of increased retention and driving
additional foot traffic to our retail partners.”
The MasterCard rePower network is open to any MasterCard issuer of
reloadable prepaid card programs. Portfolios such as the Univision
MasterCard Prepaid Card will be able to offer their cardholders the new
cash reload option through Walmart Rapid Reload.
“Prepaid products provide consumers with choices in how they manage and
spend their money. In order to maximize the potential of prepaid,
cardholders need to be able to conveniently and securely reload funds.
Our expanded partnership with Green Dot now allows our cardholders to
load funds to their prepaid cards at more than 4,000 Walmart stores that
offer Walmart’s Rapid Reload service,” said MasterCard Group Executive
of U.S. Market Development Craig Vosburg.
About MasterCard
MasterCard
(NYSE: MA), www.mastercard.com,
is a technology company in the global payments industry. We operate the
world’s fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in more
than 210 countries and territories. MasterCard’s products and solutions
make everyday commerce activities – such as shopping, traveling, running
a business and managing finances – easier, more secure and more
efficient for everyone. Follow us on Twitter @MasterCardNews,
join the discussion on the Cashless
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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
80,000 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
Media:
Green Dot
Brian Ruby, 203-682-8268
Brian.ruby@icrinc.com
or
MasterCard
Beth
Kitchener, 914-249-2058
beth_kitchener@mastercard.com