February 21, 2023 -- Neobanks, Bill Pay Leaders and Earned Wage Access Providers Join Green Dot’s Growing List of Network Partners.
Green Dot Corporation (NYSE: GDOT) and its growing list of partners are focused on powering consumers and businesses with seamless banking and payment tools and access to the cash services they need. Today the company announced a series of new partners that recently joined the Green Dot Network, including Broxel, Greenwood, Paymentus and DailyPay.
“Cash access remains critical for a significant percentage of Americans, and expanding access for these groups is key to our mission to give all people the power to bank seamlessly, affordably and with confidence,” said Jamison Jaworski, GM-SVP of Retail and the Green Dot Network at Green Dot. “We’re proud to partner with these companies and help them empower their customers with better access to the financial services they need.”
Green Dot grew its list of network partners to include bill pay companies, earned wage access providers and neobanks focused on serving underserved minority groups that tend to be significantly more dependent on cash than average consumers. This is particularly true for the “unbanked” and “underbanked” where Black Americans (40 percent) and Hispanic Americans (30 percent) drastically outnumber White Americans (12 percent).1 Cash payments make up 60 percent of payments by unbanked consumers (compared to 20 percent of banked consumers), making cash access critical for these and other cash-preferred consumers.2 Recent additions to the Green Dot Network include:
Purpose-led Neobanks Supporting Underserved Minority Groups
Bill Pay Leaders Modernizing Payments for Cash-Preferred, Unbanked and Underbanked Consumers
Companies Transforming Human Resources Management with Earned Wage Access
The Green Dot Network spans more than 90,000 retail locations throughout the U.S. and features cash-in and cash-out capabilities in stores including Walmart, Walgreens, 7-Eleven, CVS and more. With 96 percent of the U.S. population living within three miles of a location, the Green Dot Network provides expansive access to cash services for almost all U.S. consumers. The Green Dot Network’s money movement capabilities also enable partners to offer their customers the ability to move funds digitally between bank accounts.