Thursday, January 26, 2012

Green Dot Targets Older Adults With AARP Deal

Monrovia-based Green Dot, the provider of prepaid credit cards headed by Steve Streit, is looking to expand its market, with a partnership with the AARP. According to Green Dot Thursday, it will launch an "AARP Foundation" prepaid Mastercard, which will be tailored to older Americans. Financial details of the deal with the AARP was not announced, but the company said the card will be ideal for direct deposit of paychecks and federal benefit payments. Green Dot plans on rolling out the cards at Walgreens in mid February. Green Dot rose to prominence over the last few years, going from a small, angel backed startup to a successful IPO, as its products turned out to be in high demand on consumers--under pressure from a poor economy--were having difficulties getting approved for credit cards.

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