Green Dot (GDOT) and Walmart extend relationship through two agreements
Green Dot and Walmart extend relationship through two agreements
First, Walmart and Green Dot have entered into an agreement whereby Green Dot will continue to serve as the issuing bank and program manager for the Walmart MoneyCard program for an additional period of 7 years. The new agreement will take effect on January 1, 2020 and will replace the current agreement, which would have otherwise expired in May 2020. Since launching in 2006, the Walmart MoneyCard has grown into the largest retailer exclusive prepaid account program in the United States.
Additionally, Walmart and Green Dot have agreed to jointly establish a new fintech accelerator under the name "TailFin Labs, LLC," with its mission to develop innovative products, services and technologies that sit at the intersection of retail shopping and consumer financial services.