PASADENA, Calif.–(BUSINESS WIRE)–Green Dot Corporation (NYSE:GDOT) today appear a new reload technology and chump activity advised to advance the retail banknote reloading acquaintance for its millions of Green Dot Reload Arrangement users. Reload @ the Register™ is powered by Green Dot’s awful scalable and market-proven “SwIT” (Swipe Interface Technology) functionality. This real-time technology is advised to accomplish reloading banknote assimilate a prepaid agenda faster, added convenient, added able and added automatic for the chump than application a cardboard reload “chit,” which is a adjustment frequently acclimated today by Green Dot and added aggressive reload arrangement providers. Green Dot’s SwIT technology hit a above anniversary in 2012 back it aing Walmart Rapid Reload™ and will now cycle out to best of Green Dot’s added retail ally by the end of 2014.
“We apprehend Reload @ the Register, powered by Green Dot, will be a big win for all stakeholders in the prepaid agenda reload bulk chain,” said Helena Mao, General Manager, Green Dot Reload Network. “For the retailer, it agency that they will no best accept to accommodate shelving for cardboard reload chits, which will abate in-store activity to re-stock and advance those products. For the prepaid affairs manager, it agency a added automatic reload activity that’s easier for their cardholders to learn. And for prepaid cardholders, Green Dot’s Reload @ the Annals anniversary allows them to adore a faster, easier and added automatic reload transaction after accepting to fuss with the agent footfall of appointment funds from the cardboard chit to their prepaid card.”
As the name implies, “Reload @ the Register” lets prepaid cardholders artlessly go to the annals at any accommodating banker to conduct their banknote reload transaction. The accountant collects the banknote from the chump that he or she wishes to reload to their prepaid agenda forth with any applicative reload fee and swipes the customer’s prepaid agenda through the retailer’s absolute POS agenda terminal. The retailer’s terminal is affiliated to Green Dot’s abstracts processing centermost area Green Dot is able to see the transaction in real-time. This real-time transaction adjustment allows Green Dot to anon acclaim reloaded funds to the customer’s agenda anniversary after any added activity appropriate by the chump or the retailer. By comparison, the “paper chit method” of reloading requires the chit to be in-stock at the banker and requires the chump to “load the chit” with banknote and again go online or accomplish a buzz alarm to accept the money on the chit transferred to their prepaid card.
“Over the connected term, we apprehend our Green Dot Arrangement to accomplish college reload transaction volumes accustomed the artlessness and breeding of the Reload @ the Annals chump process, while extenuative Green Dot a cogent bulk of time and money appropriate for the printing, administration and affairs of cardboard reload chits at added than 90,000 banker location. Furthermore, the accepting of Green Dot’s SwIT technology by our above retail ally provides us opportunities to advance a countless of new banknote accepting use cases for barter and retailers above prepaid agenda reloading that can advice aggrandize the bazaar befalling for Green Dot and our retail partners.”
The Green Dot Reload Arrangement was invented in 2002 as the prepaid industry’s aboriginal banknote reload service. Today, The Green Dot Arrangement is America’s arch reload arrangement acclimated by all Green Dot Coffer programs and additionally by added than 150 added banks and prepaid affairs managers in adjustment to facilitate banknote reloads to their corresponding program’s cards. Last year, the Green Dot Reload Arrangement candy in balance of 40 actor reload affairs beyond its civic brand of retailers.
“Green Dot invented the prepaid agenda reload arrangement twelve years ago and we’re acutely committed to its connected evolution, advance and success,” said Kostas Sgoutas, Green Dot’s Chief Revenue Officer. “We accept Reload @ the Register, powered by Green Dot, is aloof the alpha of a cardinal of innovations still to appear accompanying to our ample and growing reload arrangement business.”
This columnist absolution contains advanced statements, which are accountable to the safe anchorage accoutrement of the Private Securities Litigation Reform Act of 1995. These statements include, amid added things, statements apropos the appulse of Reload @ the Annals on reload transaction volumes, abeyant innovations and added approaching contest that absorb risks and uncertainties. Absolute after-effects may alter materially from those independent in the advanced statements independent in this columnist release. The abeyant risks and uncertainties that could annual absolute after-effects to alter from those projected include, amid added things, appeal for the Company’s new and absolute articles and services, bazaar accepting of Reload @ the Annals as a acting for bequest articles and added inherent uncertainties associated with new artefact launches and abrupt challenges associated with amalgam systems and technologies with Green Dot’s administration and abutment partners. These and added risks are discussed in greater detail in the Company’s Securities and Exchange Commission filings, including its best contempo anniversary address on Form 10-K and annual address on Form 10-Q, which are accessible on the Company’s broker relations website at http://ir.greendot.com/ and on the SEC website at www.sec.gov. All advice provided in this absolution and in the accessories is as of March 31, 2014, and the Aggregation assumes no obligation to amend this advice as a aftereffect of approaching contest or developments.
About Green Dot
Green Dot Corporation is a technology-centric, pro-consumer Coffer Holding Aggregation with a mission to reinvent claimed cyberbanking for the masses. The aggregation is the better provider of prepaid debit agenda articles and prepaid agenda reloading casework in the United States, as able-bodied as a baton in adaptable cyberbanking with its GoBank adaptable coffer anniversary offering. Green Dot Corporation articles are accessible to consumers at added than 90,000 retailers nationwide, online and via the arch app stores. The aggregation is headquartered in Pasadena, California with its coffer subsidiary, Green Dot Bank, amid in Provo, Utah.
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