New PayPal And GreenDot Agreement Allows More Customers To Shop Online

Green Dot Corporation and PayPal today announced a new agreement that will allow U.S. consumers to load money directly to their PayPal accounts using Green Dot’s MoneyPak. This will enable people to shop anywhere PayPal is accepted without the need for a bank account or credit card.

MoneyPak can be purchased with cash at a retail store, then the money can be loaded directly into a PayPal account and used to shop online anywhere PayPal is accepted, including eBay. MoneyPak is available at more than 40,000 stores nationwide, such as Walmart, CVS/pharmacy, Kmart, Rite Aid and Walgreens.

The new agreement provides a convenient option for customers who prefer to use cash when shopping. MoneyPak has been fully integrated into PayPal’s site, allowing money to be added directly, without needing to link to any personal financial accounts.

“This relationship is transformative,” said Steve Streit, founder and CEO of Green Dot Corporation. “It creates a cash-based solution for millions of people who want to use PayPal to shop online, but don't have a credit card or bank account.”

“Working with Green Dot, PayPal can now reach the large audience of people who prefer to fund their accounts with cash,” said Dickson Chu, vice president with PayPal. “We are thrilled to offer this new service to our customers.”

In addition to funding a PayPal account, MoneyPak enables people to reload prepaid cards, make cash payments, pay bills and fund other accounts. MoneyPak is powered by Green Dot’s industry-leading cash acceptance network, and costs $4.95 or less. For more details, visit www.moneypak.com.

About Green Dot Corporation:
Green Dot is the leading provider of prepaid financial services in the United States, and owns and operates the Green Dot Network, which is the largest cash loading and reloading network in the United States. The company offers consumers a comprehensive portfolio of financial products and services through thousands of leading retailer locations nationwide including Walmart, CVS/pharmacy, Fred Meyer, Kmart, Kroger, Radio Shack, Ralphs, Rite Aid, Smiths and Walgreens. Green Dot’s products include Green Dot MasterCard and Visa branded prepaid debit cards and the Green Dot MoneyPak. The Green Dot MoneyPak provides a convenient and efficient way for consumers to load cash to prepaid cards, use cash to make purchases and pay bills, and add cash to a variety of accounts. Green Dot is headquartered in the greater Los Angeles area. To learn more about MoneyPak, visit www.moneypak.com. Green Dot and MoneyPak are registered trademarks of Green Dot Corporation.

Source: PayPal