Profile: Green Dot Corp (GDOT.K)
2 Jul 2015
Green Dot Corporation (Green Dot), incorporated on October 26, 1999, is the bank holding company of Green Dot Bank. The Company is a provider of reloadable prepaid debit cards and cash reload processing services in the United States. The Company's products and services include branded deposit account programs, private label deposit account programs, and processing and settlement services. The branded deposit account programs include Green Dot-branded and affinity-branded GPR card accounts, checking accounts and open-loop gift cards. Under private label deposit account programs, the Company provides private label GPR card accounts on behalf of a retailer or other third party entity. The processing and settlement services include reload services and tax refund processing services. The Company also offers mobile banking services through its GoBank mobile checking account.
Branded Deposit Account Programs
The Company's branded deposit account programs include Green Dot-branded and affinity-branded GPR card accounts, checking accounts and open-loop gift cards. The Company's Green Dot-branded and affinity-branded GPR card accounts are prepaid debit accounts issued by Green Dot Bank with deposits on those cards insured by the Federal Deposit Insurance Corporation (FDIC). GPR cards are designed for general spending purposes and are reloadable for ongoing long-term use. The Company offers checking account products, such as GoBank, that allow customers to acquire and manage checking account through a mobile application available on smartphone devices. The Company under open-loop gift cards offers general purpose, non-reloadable gift cards.
Private Label Deposit Account Programs
The Company provides private label GPR card accounts on behalf of a retailer or other third party entity. The private label cards bear the trademarks or logos of the retail distributor or business entity, and the Company's trademark on the packaging and back of the card. The Company's private label program is the Walmart MoneyCard.
Processing and Settlement Services
The Company's processing and settlement services include reload services and tax refund processing services. The Company allows its consumers to reload any of its GPR cards and cards from around 120 third-party prepaid card programs, and to conduct other cash loading transactions through the Green Dot Network, the Company's reload network, using retailers' point of sale (POS) devices. The Company's wholly owned subsidiary, TPG, provides tax refund processing services. TPG provides the processing technology that facilitates the receipt of a taxpayer's refund proceeds.
The Company competes with Chase, USBank, American Express, First Data, NetSpend/TSYS, UniRush, InComm, Western Union, MoneyGram, Blackhawk Network Inc., Visa, Refundo, Refund Advantage, Republic Bank, Jackson Hewitt and H&R Block.
Green Dot Corp
Suite 205, 605 East Huntington D
MONROVIA CA 91016