Unit Partners with Green Dot to Expand Cash Services for Consumers and Businesses
With 90,000-plus retail locations nationwide, the Green Dot Network offers more cash deposit and withdrawal locations than all U.S. bank branches combined
Sept. 22, 2023 – Unit, an embedded finance platform, is partnering with Green Dot Corporation (NYSE: GDOT) to expand cash services to the more than 1 million people and businesses transacting through its platform. Starting today, customers leveraging Unit’s platform will offer access to cash deposit services through the Green Dot Network’s 90,000-plus retail locations nationwide.1
“Cash remains a key pillar of the way people and small businesses manage their money,” said Ehud Fisher, VP, Product at Unit. “The ability to walk into a retail store and deposit cash at the register is a game changer, creating a solution that is more convenient than traditional banks can provide. We’re thrilled to partner with Green Dot to offer this functionality through our platform.”
A significant portion of the U.S. continues to rely on cash for everyday purchases despite the proliferation of digital banking and card services, with cash payments accounting for nearly 30 percent of in-person transactions in 2021.2 And nearly 60 percent of Americans say that at least some of their purchases are paid for using cash in a typical week.3
“Broadening access to cash and other financial tools and services is an important part of our mission to give all people and businesses the power to bank seamlessly, affordably and with confidence,” said Crystal Bryant-Minter, SVP, Money Movement at Green Dot. “We’re proud to partner with Unit to offer these valuable services through Unit’s platform.”
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 between bank accounts.
About Green Dot
Green Dot Corporation (NYSE: GDOT) is a financial technology and bank holding company committed to giving all people the power to bank seamlessly, affordably and with confidence. Green Dot's technology platform enables it to build products and features that address the most pressing financial challenges of consumers and businesses, transforming the way they manage and move money and making financial empowerment more accessible for all.
Green Dot offers a broad set of financial services to consumers and businesses including debit, checking, credit, prepaid, and payroll cards, as well as robust money processing services, tax refunds, cash deposits and disbursements. Its digital bank GO2bank offers consumers simple and accessible mobile banking designed to help improve financial health over time. The company’s banking platform services (or “BaaS”) business enables a growing list of the world’s largest and most trusted consumer and technology brands to deploy customized, seamless, value-driven money management solutions for their customers.
Founded in 1999, Green Dot has powered more than 33 million accounts directly, and many millions more through its partners. The Green Dot Network of more than 90,000 retail distribution locations nationwide, more than all remaining bank branches in the U.S. combined, enables it to operate primarily as a “branchless bank.” Green Dot Bank is a subsidiary of Green Dot Corporation and member of the FDIC4. For more information about Green Dot’s products and services, please visit www.greendot.com.
Unit is the leading embedded finance platform that makes it simple for innovative tech companies to create more value, faster. Publicly traded companies and high-growth startups use Unit's infrastructure to build banking and lending products that increase revenue and boost retention. Headquartered in New York City, Unit is backed by top investors including Insight Partners, Accel and Better Tomorrow Ventures, and serves nearly 200 customers including AngelList, HoneyBook, and Roofstock. For more information, visit www.unit.co.
Unit and featured customers are financial technology companies and not a bank. Banking services are provided by Unit's partner banks who are Member FDIC. Visa® Debit Cards are issued by Unit's partner banks pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.