PASADENA, Calif.--(BUSINESS WIRE)--Today, Green Dot Corporation (NYSE:GDOT) and Uber announced a customized business account version of Green Dot's award winning GoBank mobile checking account for Uber’s driver-partners.
Uber Checking by GoBank provides Uber driver-partners with a special kind of business checking account that reflects their entrepreneurial spirit and their fast, on-the-go, technology fueled lifestyle.
"At Uber, we're committed to offering great products that help drivers reach their goals. Drivers say that having the flexibility to drive when and where they want is a top reason they choose Uber. Drivers often tell us that they’d like to have the flexibility to decide when to get paid, too. We're excited to be able to offer this unique option with GoBank, which provides the convenience of online banking and gives drivers the ability to access their earnings instantly," said David Richter, Vice President, Strategic Initiatives.
“The partnership marries technology, banking and payments in an innovative way to give Uber driver-partners the flexibility to receive their pay instantly, and also provides an alternative to traditional banking," says Green Dot Founder & Chief Executive Officer, Steve Streit.
The partnership brings on-demand banking to the on-demand economy.
"While we don't expect revenue from this new partnership to be material to our 2016 financial guidance, we believe the Uber partnership is an example of the kinds of opportunities we have in serving America's fast growing on-demand workforce with our market-leading fintech banking products and payment solutions,” said Streit.
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About Green Dot Corporation
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.
Uber is evolving the way the world moves. By seamlessly connecting riders to drivers through our apps, we make cities more accessible, opening up more possibilities for riders and earning opportunities for drivers. From our founding in 2009 to presence in 69 countries today, Uber's rapidly expanding global presence continues to bring people and their cities closer. For more information, visit www.uber.com.
This press release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. The potential risks and uncertainties that could cause actual results to differ from those projected include, among other things, the timing and impact of revenue growth activities, the Company's dependence on revenues derived from Walmart and three other retail distributors, impact of competition, the Company's reliance on retail distributors for the promotion of its products and services, demand for the Company's new and existing products and services, continued and improving returns from the Company's investments in new growth initiatives, potential difficulties in integrating operations of acquired entities and acquired technologies, the Company's ability to operate in a highly regulated environment, changes to existing laws or regulations affecting the Company's operating methods or economics, the Company's reliance on third-party vendors, changes in credit card association or other network rules or standards, changes in card association and debit network fees or products or interchange rates, instances of fraud developments in the prepaid financial services industry that impact prepaid debit card usage generally, business interruption or systems failure, and the Company's involvement litigation or investigations. These and other risks are discussed in greater detail in the Company's Securities and Exchange Commission filings, including its most recent annual report on Form 10-K and quarterly report on Form 10-Q, which are available on the Company's investor relations website at ir.greendot.com and on the SEC website at www.sec.gov. All information provided in this press release is as of March 17, 2016, and the Company assumes no obligation to update this information as a result of future events or developments.