Green Dot and UniRush Introduce RushCard Live, a New Prepaid Card Launching at Retail Stores Nationwide
NEW YORK & PASADENA, Calif.--(BUSINESS WIRE)-- Green Dot Corporation (NYS: GDOT) - an industry-leading provider of low-cost banking and payment solutions - and UniRush, LLC, co-founded by Russell Simmons, today announced the launch of the RushCard Live Reloadable Prepaid Visa® Card [www.RushCardLive.com], a new prepaid card that will begin rolling out to thousands of Green Dot partner retailers nationwide and be available for purchase later this month.
"The introduction of RushCard Live has the potential to significantly expand UniRush LLC's customer base by allowing consumers to purchase the card at many of their favorite retailers around the country," said Rob Rosenblatt, CEO of UniRush LLC. "We are excited to partner with Green Dot to offer RushCard Live at thousands of store locations that reach the vast and growing base of consumers who are underbanked."
"We believe that launching RushCard Live will be helpful in expanding our overall category sales by providing our retailers with a differentiated and innovative product with strong brand appeal," said Steve Streit, Chairman and CEO, Green Dot Corporation.
The RushCard Live Reloadable Prepaid Visa Card, issued by Green Dot Bank, Member FDIC, is a convenient and cost-effective alternative to a traditional bank account. RushCard Live, available only at retail, offers attractive features, including: early payroll direct deposit, which enables customers to receive their direct-deposited paycheck up to two days before payday; pass-through FDIC insurance coverage up to the applicable limits; and a choice of usage plans.
Additionally, RushCard Live customers have access to fee-free transactions at more than 22,000 ATMs via the nationwide MoneyPass® ATM network, worldwide merchant acceptance of Visa debit, online bill pay, and a mobile app which includes real-time views of account balances and transaction histories. There are no overdraft fees or credit card debt associated with the RushCard Live Reloadable Prepaid Visa Card.
About UniRush, LLC
Co-Founded in 2003 by entrepreneur and philanthropist Russell Simmons, UniRush, LLC, revolutionized the payments industry when it launched one of the first prepaid Visa debit cards. RushCard provides instant access to a set of basic financial services for millions of Americans who cannot or choose not to establish a traditional banking relationship. For more information about RushCard Live visit www.RushCardLive.com or https://www.facebook.com/RushCardLive. For more information on the original RushCard, please visit www.rushcard.com.
About Green Dot
Green Dot Corporation is a Bank Holding Company with a mission to reinvent personal banking for the masses. Its market leading brand of prepaid debit cards and prepaid reload services are available to consumers at more than 60,000 retail locations nationwide and online at greendot.com. The company is headquartered in Pasadena, California with technology offices in Mountain View, California and Westlake Village, California and its bank subsidiary, Green Dot Bank, located in Provo, Utah. For more details, visit www.greendot.com.
This press release contains forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements include, among other things, statements regarding the timeframe within which the card is expected to become available. Actual results may differ materially from those contained in the forward-looking statements contained in this press release. A wide-variety of potential risks, uncertainties, and other factors could materially affect Green Dot's ability to achieve the results expressed or implied by Green Dot's forward-looking statements, and those risks and uncertainties are detailed in Green Dot's earnings releases and other filings with the Securities and Exchange Commission, including its annual report on Form 10-K, which is available on Green Dot's investor relations website at http://ir.greendot.com. All information provided in this release is as of April 8, 2013, and Green Dot assumes no obligation to update this information as a result of future events or developments.
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