Green Dot Cashes In On New Cash Processing Tech

Green Dot Corp., the prepaid MasterCard and Visa issuer and financial technology company, said Tuesday (Aug. 4) that it has new technology in place that allows customers to add cash to their accounts through mobile devices.

The company said in a statement that its new service dovetails with the Web-enabled Green Dot barcode generation system and lets thousands of Green Dot retail locations offer a new cash-loading feature called “Green Dot @ the Register.”

Using the service, customers log into their accounts via desktops or mobile browsers and are prompted to “Add Money at a Store,” which will generate a new barcode. That new barcode in turn can either be displayed on the screen or downloaded and printed. The barcode is then presented to the cashier, who scans the barcode, and the cash is collected to complete the load transaction.

In the statement unveiling the new service, Helena Mao, general manager of the Green Dot Network, said that “Green Dot @ the Register facilitates a safer and seamless process for adding cash to accounts that is easy, convenient and intuitive for both customers and retailers.” “This is another example of how Green Dot is expanding its technology platform to be adapted for numerous uses, including reloading prepaid cards and digitizing cash from a customer’s wallet at the retailer point of sale and then sending it to any type of account instantly.”

The company has been busy expanding not only its business lines but its geographic footprint as well. In mid-July, Green Dot opened a wholly owned subsidiary in Shanghai, with an eye on technology support for its branchless banking platform in the United States.



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