Green Dot Corporation

Green Dot Corporation is a company providing money management solutions in the US since 1999. Previously known as Next Estate Communications, Green Dot was reported to raise about $20 million in funding. It based in Monrovia, California and offers different kinds of financial products through retailer network including Walmart, Rite Aid, Kmart, Kroger, Ralphs, Fred Meyer. The list of products of Green Dot consist of Green Dot MasterCard® and Visa® debit cards. They are available at 50 thousand retail stores.
The cards can be used like other debit or credit cards, the difference is that they are backed by a checking account or line of credit. A purchase is deducted from the balance stored on the card. Green PlaNET, a technological platform of Green Dot, provides connectivity and interoperability with debit cards . Due to their products, broad retail network and modern technologies, Green Dot enhances the value they deliver to the participants of their network.

Green Dot is considered to be a pioneer in producing reloadable prepaid debit cards and reload services known as prepaid financial services. GPR cards(General Purpose Reloadable cards) were developed for general spending purposes. They can be anywhere where payment network works and Visa/ MasterCard is accepted. They differ from My Green Dot gift cards that they can be reloaded and used for a long time. Green Dot’s GPR cards are issued as Visa- or MasterCard-branded cards and they are accepted around the world for bill payments, online shopping, everyday store purchases and ATM withdrawals. Green Dot’s portfolio consists of about 3,5 million active cards.

Green Dot has established strong marketing relationships with many world-known retail chains such as Walmart, CVS, Rite Aid, 7-Eleven, Kroger, K-Mart, Meijer and Radio Shack. Consumers can easily purchase and reload the cards I these chains. Moreover, Green Dot has been working with PayPal since 2009. It means that any customer can add fund to a PayPal account through Green Dot Network .

Green Dot has developed a business model with significant network effects. It develops the number of their products and services, network participants that accept reloads or payments and it helps to enhance the value Green Dot delivers to all network participants. With a help of technology platform known as Green PlaNET network participants can communicate and complete transactions quickly and safely through Green Dot’s reload network or third-party payment networks.