The Green Dot Network will enable bill payment options for REPAY’s clients and their customers who transact in cash
AUSTIN, Texas--(BUSINESS WIRE)--Dec. 14, 2023--
Green Dot Corporation (NYSE: GDOT) today announced that Repay Holdings Corporation (“REPAY”), a leading provider of vertically integrated payment solutions, has joined its growing list of partners utilizing the Green Dot Network to expand bill payment options for REPAY’s clients spanning personal finance, auto finance, credit unions, mortgage and other industries. Powered by the expansive Green Dot Network, REPAY clients can now support their customers with eCash payment options at more than 45,000 retail locations across the United States.
“As a leader in the transformation of integrated digital payments, we continuously look for opportunities to expand and enhance our solutions across payment modalities and networks,” said Jake Moore, EVP, Consumer Payments, REPAY. “Offering our clients the ability to securely and efficiently accept cash payments will enable them to deliver additional bill payment options, driving customer satisfaction.”
Cash payments account for at least 20 percent of all transactions, according to the Federal Reserve.1 By partnering with Green Dot, REPAY is able to offer businesses the ability to accept cash bill payments and make more than 45,000 convenient retail locations available to their customers to pay bills quickly and safely with cash in person.
“Enabling businesses to transact and provide customers with more options to pay bills and move money is core to our mission to give all people the power to bank seamlessly, affordably and with confidence,” said Crystal Bryant-Minter, SVP, Money Movement at Green Dot. “We’re proud to partner with REPAY to offer small businesses the functionality they need to expand financial access for their clients and customers.”
For more than 20 years, Green Dot has expanded access to modern banking and payment tools for consumers and businesses. The Green Dot Network of more than 90,000 retail locations throughout the U.S. offers cash-in and cash-out capabilities in stores including Walmart, Walgreens, 7-Eleven, CVS and more. As traditional banks continue closing brick and mortar locations across the U.S., particularly in underbanked communities, the Green Dot Network provides seamless access to cash services for almost all U.S. consumers, with 96 percent of the U.S. population living within three miles of a Green Dot Network location.
REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for clients, while enhancing the overall experience for consumers and businesses.
About Green Dot
Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company committed to giving all people the power to bank seamlessly, affordably and with confidence. Green Dot's technology platform enables it to build products and features that address the most pressing financial challenges of consumers and businesses, transforming the way they manage and move money and making financial empowerment more accessible for all.
Green Dot offers a broad set of financial services to consumers and businesses including debit, checking, credit, prepaid and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. Its digital bank GO2bank offers consumers simple and accessible mobile banking designed to help improve financial health over time. The company’s banking platform services (or "BaaS") business enables a growing list of the world’s largest and most trusted consumer and technology brands to deploy customized, seamless, value-driven money management solutions for their customers.
Founded in 1999, Green Dot has powered more than 33 million accounts directly, and many millions more through its partners. The Green Dot Network of more than 90,000 retail distribution locations nationwide, more than all remaining bank branches in the U.S. combined, enables it to operate primarily as a "branchless bank." Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC2. For more information about Green Dot’s products and services, please visit www.greendot.com.
1 FEDNOTES: 2022 Findings From the Diary of Consumer Payment Choice, May 5, 2022
2 Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits. Green Dot Corporation NMLS #914924; Green Dot Bank NMLS #908739.
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Source: Green Dot Corporation