Wednesday, October 30, 2019

Green Dot, Walmart To Launch Fintech Accelerator

Pasadena-based Green Dot and Walmart said on Monday afternoon that they have created a fintech accelerator, as part of an extended relationship. According to the two, Green Dot will continue to serve as the issuing bank and program manager for the Walmart MoneyCard program for an additional period of seven years. Green Dot has been managing Walmart's MoneyCard program since 2006. Green Dot and Walmart said the new, fintech accelerator will focus its efforts on developing tech-enabled solutions that seamlessly integrate omni-channel retail shopping and financial services, for both consumers and businesses, and will be majority owned by Walmart. The two did not say where the new accelerator, TailFin Labs, will be based.