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02/25/2019
Direct Deposits Fuel Green Dot’s Payment Volume and Revenue Growth
Digital Transactions
Green Dot Corp.’s diversification from a pure prepaid card management company into banking and other financial-services niches is driving direct deposits into its card accounts and spurring revenue-generating payment volume, according to the company’s latest financial report.
Pasadena, Calif.-based Green Dot said Wednesday that fourth-quarter purchase volume on its cards rose 10% to $6.2 billion from the year-earlier quarter’s $5.65 billion. That increase came despite the active card base growing only 0.6% to 5.29 million.
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