Walmart sticks with Green Dot

Source: Green Dot

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.”

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