Green Dot unveils mobile cash processing tech

Source: Green Dot Corporation

Green Dot Corporation(GDOT)today announced a new cash processing technology that enables customers to securely and conveniently add cash to their accounts at participating retailers using their mobile device.

This service leverages Green Dot’s new mobile and web-enabled barcode generation system and thousands of Green Dot retail locations to provide a new cash-loading option.

“Green Dot @ the Register facilitates a safer and seamless process for adding cash to accounts that is easy, convenient and intuitive for both customers and retailers,” said Helena Mao, General Manager, Green Dot Network. “This is another example of how Green Dot is expanding its technology platform to be adapted for numerous uses, including reloading prepaid cards and digitizing cash from a customer's wallet at the retailer point of sale and then sending it to any type of account instantly. Our goal is to utilize Green Dot's latest cutting edge mobile technology and marry it to Green Dot's legacy retail point of sale technology to create a massive network of retail locations where instant cash movement can happen for any number of purposes."

Customers of participating Green Dot partners can now log into their accounts from their desktop or mobile browser and select the ‘Add Money at a Store’ option to generate a unique barcode, which can be displayed on their mobile device or printed. Customers then simply present the barcode to the cashier at a participating retailer who will scan the barcode and collect the cash to complete the load transaction.

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