Green Dot Corporation (NYSE: GDOT), a financial technology and bank holding company powering consumers and businesses with seamless banking and payment services, has added Stripe as its newest Green Dot Network partner.
Powered by Green Dot’s embedded finance platform, Arc, Stripe Treasury will allow users to quickly and conveniently add cash to their accounts at any of Green Dot’s more than 90,000 money processing locations nationwide, with additional enhancements and capabilities planned for the future.
“We’re thrilled to partner with Stripe to embed more flexible, accessible financial services into its already expansive capabilities for today’s business owners,” said Renata Caine, general manager and senior vice president of embedded finance at Green Dot. “This collaboration reflects our shared vision of enabling seamless, inclusive financial experiences using modern infrastructure, and we look forward to helping Stripe deliver more value to its users for years to come.”
The cash economy remains strong, particularly among low-to-moderate income (LMI) households and older adults. Consumers age 55 and older use cash for 22% of their payments – nearly double the rate of younger consumers – and similarly, households earning less than $25,000 annually rely on cash for 28% of their transactions.1 Additionally, 83% of U.S. adults used cash at least once in the past 30 days2 and more than 90% intend to continue using cash as a payment method.3 This partnership addresses the growing demand for accessible cash services, helping bridge the digital divide and enabling businesses to conveniently and affordably deposit cash into digital accounts.
Stripe is a technology company that builds economic infrastructure for the internet. Businesses of all sizes – from startups to public companies – use its software to accept payments and manage their businesses online, processing more than $1.4 trillion in 2024. By integrating the Arc platform and the Green Dot Network, Stripe is ensuring the businesses relying on its infrastructure have the flexibility to serve a wide range of customers with seamless and affordable money movement solutions.
For more than 25 years, Green Dot has expanded access to modern banking and payment tools for consumers and businesses. Powered by Arc, the Green Dot Network – which includes more than 90,000 retail locations nationwide – offers cash-in and cash-out capabilities at stores such as Walmart, Walgreens, CVS and others. As traditional banks continue to close brick-and-mortar locations across the U.S., particularly in underbanked communities, the Green Dot Network provides seamless access to cash services for nearly all U.S. consumers, with 96 percent of the population living within three miles of a network location. Its money movement capabilities also enable partners to offer customers the ability to transfer funds digitally between bank accounts.