Green Dot Corporation
) and the world's largest retailer
Wal-Mart Stores, Inc
) recently launched six new cards to broaden their portfolio of
Walmart MoneyCard re-loadable prepaid debit cards. Following this
expansion, GreenDot's Walmart prepaid card portfolio now includes
This new class of card is expected to offer varying features
at reasonable costs. The portfolio of prepaid cards is available
under three broad service categories: Walmart MoneyCard Basic,
Plus and Preferred. These debit cards offer a range of services
such as mobile web registration, account alerts, pharmacy
discounts and merchant funded offers. Within the Plus category of
cards are included the NASCAR Prepaid Visa Card, Mossy Oak
Prepaid MasterCard and RushCard Live Prepaid Visa Card.
This move by the company is a significant one to address the
evolving needs of millions of Wal-Mart customers and to
strengthen its market share. GreenDot faces strong competition
from major players like
American Express Company
), which recently launched a reloadable prepaid card. AmEx's new
card has a lower monthly maintenance fee compared to Green Dot's
previous debit cards, making it more attractive to customers.
Moreover, new entrants in the market, like drug stores and
grocery store operators, who have also launched their own
re-loadable prepaid cards, are giving stiff competition to Green
Based in California, Green Dot provides low-cost banking and
payment solutions. The company markets prepaid debit cards and
related services both at retail locations and online. Its main
objective is to reinvent personal banking for the masses, through
a portfolio of financial services, available across a nationwide
array of retail locations.
Green Dot currently carries a Zacks Rank #4 (Sell). Also
belonging to the same industry,
) holds a Zacks Rank #2 (Buy).
AMER EXPRESS CO (AXP): Free Stock Analysis
GREEN DOT CP-A (GDOT): Free Stock Analysis
MASTERCARD INC (MA): Free Stock Analysis
WAL-MART STORES (WMT): Free Stock Analysis
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