Green Dot Goes Mobile for Cash Loads (Aug. 4, 2015)
Green Dot Corp. is using barcode-generation technology to enable customers to add cash to their accounts using their mobile devices at more than 65,000 retailers in its reload network.
The service, which builds upon the company’s swipe reload process, Green Dot @ the Register, enables customers of participating Green Dot partners to log into their accounts from a desktop or mobile browser and select the “Add Money at a Store” option to generate a barcode, which can be displayed on their mobile device or printed. Customers then present the barcode to the cashier, who will scan the barcode and collect the cash to complete the load transaction.
Participating retailers include CVS/pharmacy, Dollar General, Dollar Tree, Family Dollar, Safeway, Walgreens and Walmart. Green Dot @ the Register also enables customers to add money to PayPal as well as reload their cards from a paper check. Additional services are forthcoming, according to the company, which may follow InComm’s lead by adding bill pay. InComm’s Paybefore Award-winning Cashtie API enables retailers to scan a barcode to accept cash payments for bill and insurance premium payments.
Green Dot’s goal is to use mobile technology alongside its legacy retail POS technology to create a large network of retail locations where “instant cash movement can happen for any number of purposes,” says Helena Mao, Green Dot general manager.
In addition to adding convenience for consumers, the service helps replace the MoneyPak PIN method of loading cards, which the company announced it was discontinuing last summer. “This move by Green Dot helps to fill the gap left by removing the MoneyPak as a reload method,” Ben Jackson, director, prepaid advisory service, Mercator, tells Paybefore. “While Green Dot removed the MoneyPak because of fraud concerns, there were plenty of legitimate users. Green Dot likely is doing this as a way to continue to serve those customers and give others another option for loads.”