Marqeta and Green Dot Partner to Facilitate Cash Deposits

Marqeta customers and their users can now make cash deposits at Green Dot’s network of more than 95,000 locations across the U.S.

This capability comes from a new partnership between Marqeta, whose platform enables businesses to embed financial services into their branded experience, and Green Dot, whose network offers cash-in and cash-out services at Walmart, Walgreens, 7-Eleven, CVS and other retail locations, the companies said in a Friday (Feb. 28) press release.

The partnership will facilitate Marqeta’s cash load offering, according to the release.

“Collaborating with Green Dot further strengthens our financial services capabilities and reinforces our platform’s ability to deliver comprehensive financial services that provide our customers with the flexible and efficient solutions they demand,” Marqeta Chief Product Officer Rahul Shah said in the release.

The partnership will allow consumers and businesses to deposit cash into digital bank accounts, with the Green Dot Network having a location within 3 miles of 96% of the U.S. population, per the release.

“We are proud to collaborate with Marqeta to bring our shared vision of delivering seamless and affordable financial services to life for more businesses and consumers across the U.S.,” Crystal Bryant-Minter, senior vice president of money movement at Green Dot, said in the release.

Green Dot said in January that it launched a partnership with self-service deposit network Clip Money that will expand Clip Money’s over-the-counter deposit service for businesses via Green Dot Network locations nationwide.

“Local area business owners will now be able to visit convenient retail locations in the Green Dot Network to deposit cash directly into their existing bank account, supported by the Clip Money network, without having to visit a traditional bank branch during banking hours,” the companies said at the time in a press release.

In March 2024, Green Dot said three more FinTech companies — Repay, Facebank and Pana — joined the Green Dot Network to enable cash transactions and services for their customers.

By becoming partners of the network, the three FinTechs can offer these services via Green Dot’s network of retail locations.

“As the demand for cash and cash transactions persists in the U.S., more companies are looking to power their customers with simple, accessible and affordable cash services,” Bryant-Mintner said at the time in a press release.

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