Green Dot Launches Reloadable Prepaid Card On Discover Network
Green Dot Corporation has announced that it is offering "through its retail network the first reloadable prepaid card to launch on the Discover Network. Customers will be able to use the card to purchase goods and
services at over 4 million merchant locations where Discover is accepted. Like other Green Dot products, the Green Dot Discover Network prepaid card can be reloaded via the Green Dot Financial Network -- one of the nation's largest retail-based cash acceptance networks."
"Discover Network is committed to offering its customers a broad spectrum of payment options," says Joe Hurley, vice president of Discover Financial Services LLC. "Earlier this year, we launched the Discover(R) Network Signature Debit Card which offers customers a secure and convenient signature debit product. This relationship with Green Dot now gives us the ability to offer the Discover Network prepaid card at thousands of branded retail locations nationwide, significantly enhancing our product portfolio and extending the reach of the Discover brand. Green Dot's innovative approach to consumer financial services is consistent with our mission to offer customers payment vehicles that are widely accepted and easy to use."
"We are pleased to bring to market this new product that further expands prepaid debit card offerings for our retailer base and our customers, said Steve Streit, CEO of Green Dot Corporation."
The Green Dot Discover Network prepaid card is issued by Columbus Bank and Trust Company in Columbus, GA.
I have used this system in my supply business. I deal with retail locations that are responsible for their own document processing supplies in house. They have access to the Green Dot system because they sell the pre-paid Debit cards and the refill cards. They are able to put their payments on my cards. The fees at my level now are completive with retail bank fees and I have accounts with the issuing bank (s). The tax accumulations go into an account and the payments made are electronic.
My sister was recently inspired to repay me some money she has owed me for years by my sending her a reload card that she took to a CVS, and hooked me up.
My balances and up-to-the-minute transaction information is available instantly from any web connection.
It has become a way to make sure my 20 year female college student child, going on 2, has money when she needs it and and the transfers are easy, instant and painless.
My impulse buying is down because it's my cash and not heavily laden borrowed cash. I have switched to pre-paid phones also. There is less gab and more getting on with things.
It is a new wrinkle in old cloth.
Posted by: atpsystem | April 28, 2007 at 06:42 PM