PASADENA, Calif.--(BUSINESS WIRE)--Green Dot Corporation (NYSE:GDOT) announced today that it has entered into a new, long-term agreement with Walmart, whereby Green Dot Corporation and Green Dot Bank will continue to serve as the program manager and issuing bank for the Walmart MoneyCard suite of prepaid reloadable debit card products.
The initial term of this new agreement is for five years. The new term has an effective start date of May 1, 2015 and will replace the current agreement which would have otherwise expired at the end of this year.
Steve Streit, Founder, Chairman and CEO of Green Dot Corporation, stated, “We are so very proud to serve Walmart and the many millions of Americans who rely on Walmart for low prices on the products and services they want and need. We launched the MoneyCard program with Walmart in 2007, and today it remains the largest and most prestigious General Purpose Reloadable prepaid card program in America. To be chosen again as Walmart’s partner against a wide field of fine competitors brings a wonderful feeling of accomplishment and satisfaction for all of us at Green Dot Corporation who work so hard on behalf of our customers, our business partners and our investors.”
The Company will discuss the renewal during a conference call to be held at 5:00PM ET today. Hosting the call will be Steve Streit, Chairman and Chief Executive Officer, and Mark Shifke, the Company’s interim Chief Financial Officer. The conference call can be accessed live over the phone by dialing (888) 348-8307, or (412) 902-4242 for international callers. A replay will be available approximately two hours after the call concludes and can be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the conference ID is 10067568. The replay of the webcast will be available until Monday, June 29, 2015. The live call and the replay, along with supporting materials, can also be accessed through the Company's investor relations website at http://ir.greendot.com.
About Green Dot
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.