Meet the Company Behind The Walmart Prepaid Debit Card (and Others…)
Ever curious about what the little green dot on some prepaid debit cards means? Well the green dot is a trademark that is used to show that the Walmart prepaid debit cards are processed by a company called GreenDot. Learn about it GreenDot and what they do in this article.
Many of the prepaid debit cards issued in the United States are managed by a company called Green Dot. If you look at the packaging on the Walmart prepaid debit card as an example, you’ll notice a little green dot on the packaging. That green dot indicates that Walmart cards are processed using technology provided by Green Dot Corporation.
Walmart is not the only company that issues cards processed by Green Dot. Other companies include General Electric, Meijer, PayPal, etc. Why do they partner with Green Dot? Well, according to the Green Dot website,
Green Dot Corporation invented the retail prepaid debit card product and is today the largest company providing such products and services. With nearly 50,000 stores nationwide selling its products, Green Dot Corporation maintains a commanding market share of the retailer-sold debit card category.
Additionally, Green Dot Corporation owns and operates the Green Dot Financial Network (GDFN). GDFN is the largest domestic cash-acceptance network of its kind offering prepaid card reloading and other cash collection services to America’s leading banks and financial services companies.
Green Dot claims to be the number 1 brand in prepaid cards, and operates the largest prepaid debit card load network.
Here’s the demographics of a typical Green Dot customer:
- 40% are homeowners
- Their average annual income is $27,500
- Over 20% have declared bankruptcy
- Almost 70% have been turned down for a credit card
- Almost 50% have active bank accounts.
Green Dot also acknowledges that many of their customers are people who have had ChexSystems problems in the past.
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