Green Dot

What Green Dot does

Green Dot is a financial technology and registered bank holding company that provides digital banking and embedded finance services through direct-to-consumer products and a Banking-as-a-Service (BaaS) platform for enterprise partners. Founded in 1999 and headquartered in Austin, Texas following a 2021 relocation from Provo, Utah, the company operates Green Dot Bank, an FDIC-insured subsidiary that issues debit cards, provides mobile banking, and serves as the regulatory infrastructure underlying its BaaS business. Green Dot serves 80 million accounts across consumer brands (GO2bank, Green Dot Unlimited Cash Back, Pay As You Go Visa Debit) and partner-branded products (Walmart MoneyCard, Apple Cash, Uber, Intuit/TurboTax) targeting underbanked, gig economy, and credit-building consumers.

The company's technology platform centers on Arc, a cloud-native API-based embedded finance platform enabling partners to issue debit cards, build digital banking experiences, and access money movement and compliance infrastructure. Its most distinctive infrastructure asset is the Green Dot Network of 90,000+ retail deposit locations — reportedly more than all remaining U.S. bank branches combined — enabling cash deposits and withdrawals at 96% of the U.S. population within 3 miles. Revenue is generated through interchange and transaction fees on debit card usage, subscription fees on consumer products ($5–$9.95/month typically waived with direct deposit), BaaS platform fees from enterprise partners, and tax refund processing through Santa Barbara Tax Products Group (SBTPG). Two anchor customers — Apple and Walmart — together generate approximately 65% of fiscal 2024 revenue, creating significant concentration.

The company is currently undergoing a major structural transformation announced in November 2025, in which Smith Ventures will acquire non-bank fintech operations for $690 million while CommerceOne Financial Corporation acquires Green Dot Bank to form a new publicly traded bank holding company. Shareholders approved the deal in June 2026 (>99% in favor), and closing is expected in Q3 2026 pending Federal Reserve, Alabama, and Utah regulatory approvals. Despite the pending separation, Green Dot reported strong Q1 2026 results with $656.2M in revenue (up 17% YoY) and $53.7M in net income (up 109% YoY), and continues to add BaaS partnerships (Stripe, Treasury Prime, DolFinTech, Amscot, Dayforce) to its 180+ partner ecosystem.

Name

Green Dot

Legal name

Green Dot Corporation

Website

https://greendot.com

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Green Dot is a financial technology and FDIC-insured bank holding company offering digital banking products (GO2bank, debit cards) to underbanked consumers and a Banking-as-a-Service platform (Arc) for enterprise partners including Walmart, Apple, and Stripe.

Ownership category

akta.pro rank

Product category

Digital Banking & Banking-as-a-Service

NAICS

Savings Institutions and Other Depository Credit Intermediation (52218), Credit Card Issuing (52221)

SIC

Commercial Banks, Nec (6029), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Green/Ethical/Sustainable Neobanks (FSABAFAI)

akta.pro secondary industry

Government Benefit & EBT / Social Program Cards (FSAMANAF)

Keywords

• Banking-as-a-service
• Prepaid debit cards
• Embedded finance platform
• Digital banking services
• Consumer banking products

Headquarters

HQ city

Austin

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. B2B Platform Services (BaaS): Banking-as-a-service fees charged to enterprise partners (Apple, Walmart, Intuit, Uber, Amazon, Stripe, Treasury Prime, DolFinTech, Dayforce) for access to debit card issuance, digital banking APIs, and regulatory infrastructure; driven by volume of accounts and transactions processed
2. Interchange and Transaction Fees: Interchange fees earned on debit card transactions across all issued cards (Green Dot, GO2bank, Walmart MoneyCard, partner-branded cards); per-transaction fees for reloads, cash deposits, and withdrawals
3. Tax Processing Services: Tax refund processing through Santa Barbara Tax Products Group (SBTPG); fees from tax preparation software integrations and refund-related transactions
4. Direct-to-Consumer Products: Monthly account fees on Green Dot and GO2bank cards (waived with qualifying direct deposits), overdraft fees, and optional add-on services
5. Payroll and Earned Wage Access: Employer-facing payroll card and earned wage access solutions through Rapid Paycard, generating fees per card and per transaction

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels7 records

Core offering

Green Dot is a financial technology and bank holding company that delivers digital banking products (prepaid and demand-deposit-account debit cards, mobile banking, high-yield savings) directly to consumers and provides Banking-as-a-Service infrastructure (the Arc platform and Green Dot Network) to enterprise partners who deploy white-label banking experiences. Its Green Dot Bank subsidiary provides the FDIC-insured banking charter that underwrites all consumer accounts and BaaS partner programs.

Product overview

Green Dot operates as a financial technology company and registered bank holding company offering a multi-brand product portfolio centered on digital banking, prepaid/debit cards, and Banking-as-a-Service (BaaS) infrastructure. The consumer-facing portfolio includes GO2bank (flagship mobile banking platform), Green Dot Unlimited Cash Back Bank Account, and multiple Visa debit card variants (Standard, Pay As You Go, Cash Back) differentiated by fee structures and rewards. Supporting infrastructure includes MoneyPak for cash loading and the Green Dot Network of 90,000+ retail deposit locations. The enterprise BaaS division provides the Arc embedded finance platform and Green Dot Network to partners (including Treasury Prime, Stripe, Amscot Financial, DolFinTech, Dayforce, Stockpile, REPAY) enabling white-label debit card issuing, cash management, and earned wage access. Vertical-specific offerings include Rapid Paycard for employer payroll solutions, Tax Practice Solutions (SBTPG) for tax refund processing, and Walmart MoneyCard for retail customers. Green Dot Bank, operating under GO2bank, GoBank, and Bonneville Bank trade names, provides the underlying FDIC-insured banking charter.

Differentiator

Problem solved

Functional benefit

Brands

• GO2bank: Digital-only mobile banking platform offering consumers simple and accessible mobile banking designed to help improve financial health over time, with features including overdraft protection, early direct deposit, high-yield savings, and credit-building tools.
• Arc
• Green Dot Network
• Rapid Paycard
• MoneyPak

Products and services

• GO2bank Green Dot's flagship digital-only mobile banking platform for underbanked Americans, offering a Visa debit card, 4.50% APY savings (no monthly fees), overdraft protection up to $200, early direct deposit, and a secured credit card for credit building.
• Green Dot Unlimited Cash Back Bank Account Online-only bank account offering unlimited 2% cash back on online and mobile purchases, free cash deposits using the app at participating retailers, and fee waivers with qualifying direct deposits.
• Green Dot Visa Debit Card Reloadable Visa debit card sold at retail stores, with budget and money management features, early direct deposit, and Money Vault savings option. $7.95 monthly fee waived with $500+ direct deposit.
• Green Dot Pay As You Go Visa Debit Card No monthly maintenance fee debit card with a simple pay-per-use model ($1.50 per transaction), designed for occasional users wanting basic banking features without ongoing fees.
• Green Dot Cash Back Visa Debit Card Debit card earning 2% cash back on online and mobile purchases plus 2.00% APY on savings up to $10,000. Monthly fee ($9.95) waived with $1,000+ monthly spend.
• MoneyPak Reloadable card product allowing users to add cash to their Green Dot card or other eligible cards at participating retail locations.
• Arc Embedded Finance Platform Cloud-native, API-based Banking-as-a-Service platform enabling enterprise partners to issue debit cards, create digital banking experiences, and access compliance, money movement, and the Green Dot Network through a single API integration. Powers solutions for Treasury Prime, Amscot, DolFinTech, Dayforce, Stockpile, and others.
• Green Dot Network Retail cash deposit and withdrawal network with 90,000+ locations nationwide (Walmart, Walgreens, CVS, 7-Eleven, etc.), enabling cash deposits, withdrawals, and bill payments and powering cash management solutions for BaaS partners.
• Rapid Paycard Employer-focused payroll card and earned wage access solution providing employees with on-demand access to wages, fee-free ATM access, and spending controls.
• Tax Practice Solutions (SBTPG) Tax refund processing and practice management solutions for tax professionals, enabling tax refund disbursement to customers through Green Dot's banking infrastructure (e.g., TurboTax refund cards).
• Walmart MoneyCard Demand deposit account issued by Green Dot Bank for Walmart customers, converted from prepaid to DDA in 2021, featuring cash back rewards, overdraft protection up to $200, direct deposit, and interest on savings. Partnership extended through 2033.
• Green Dot Bank FDIC-insured bank subsidiary of Green Dot Corporation operating under trade names GO2bank, GoBank, and Bonneville Bank, providing the banking charter and deposit insurance for Green Dot's consumer products and BaaS platform partners.

Quantifiable outcome

• 17% year-over-year revenue growth in Q1 2026 to $656.2 million
• +4 more outcomes

Named customers12 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability7 records

Feature6 records

Partnerships

15 partnerships are on record, tiered core, major and minor.

• Treasury PrimecoreTechnology or Integration · 25 June 2026Prime Cash solution powered by Green Dot Network enabling Treasury Prime fintech partners to offer cash deposits at 90,000+ retail locations (Walmart, Walgreens, CVS) via barcode-based in-app experience
• WalmartcoreStrategic or Co-development Partner · 27 April 2026Extended strategic partnership through 2033 for Walmart MoneyCard issued by Green Dot Bank; extended from original agreement covering 4,700+ U.S. store locations; one of two largest customers generating significant revenue
• DolFinTechmajorTechnology or Integration · 9 March 2026FDIC-insured demand deposit accounts and Visa debit cards (DolEx and Barri) powered by Green Dot's embedded finance platform Arc; targets Hispanic and underserved communities with multilingual support and foreign ID acceptance
• Amscot FinancialmajorTechnology or Integration · 17 November 2025Partnership to launch banking services using Green Dot's embedded finance platform Arc at 230+ Amscot locations in Florida; offers demand deposit accounts, secured credit card, and 25,000+ ATM access
• StripecoreTechnology or Integration · 8 September 2025Green Dot Network partnership enabling Stripe Treasury users to add cash at 90,000+ retail locations through embedded finance platform Arc; addresses cash-dependent customers in underbanked communities
• DayforcecoreTechnology or Integration · 21 February 2024BaaS partnership powering Dayforce Wallet on-demand pay solution; Green Dot serves as U.S. banking provider enabling earned wage access via mobile app and linked prepaid cards with fee-free ATM access
• REPAYmajorTechnology or Integration · 14 December 2023REPAY joined Green Dot Network enabling eCash bill payment options at 45,000+ retail locations for REPAY clients in auto finance, credit unions, mortgage, and personal finance
• SocuremajorTechnology or Integration · 23 October 2023Founding member of Socure's First-Party Fraud Consortium (FPFC) pooling data across 50M+ active accounts to detect and prevent first-party fraud; consortium includes SoFi, Varo, Ingo, Dave, Public
• StockpilemajorTechnology or Integration · 3 October 2023BaaS partnership delivering debit cards with parental spending controls for minor investors; first new partner on Green Dot's modernized cloud-native platform
• PlaidcoreTechnology or Integration · 15 March 2022Open finance partnership connecting GO2bank customers with 6,000+ apps via Plaid Exchange API; enables secure account connectivity and data access
• Gig WagemajorStrategic or Co-development Partner · 2 September 2021Strategic investment and partnership (lead investor in Series A); Green Dot serves as infrastructure bank partner for Gig Wage's instant payments platform for 1099 gig workers
• CommonwealthminorStrategic or Co-development Partner · 2 September 2021Research partnership to study financial insecurity of gig workers; tests financial products supporting gig workers and tools for income sufficiency and stability
• ExperiancoreTechnology or Integration · 21 July 2021GO2bank partnership offering Experian Boost (free FICO score increase via utility/phone bill payments) and Experian CreditLock identity protection; helps customers build credit regardless of history
• Finicity (Mastercard)majorTechnology or Integration · 21 July 2021Secure data access agreement via Finicity's open banking API enabling GO2bank customers to link accounts to third-party apps; Finicity covers 63% of open banking platform traffic with direct API access
• ApplecoreStrategic or Co-development PartnerApple Cash servicing via Green Dot Bank; one of two largest customers generating 65% of fiscal 2024 revenue (approximately $1.7 billion)

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Block (Cash App): Block's Cash App offers a prepaid-style debit card, mobile banking, and direct deposit features targeting underbanked consumers in the U.S. — directly competing with Green Dot's GO2bank, Cash Back Visa Debit, and Walmart MoneyCard products across both consumer and small-business segments.
• Varo Bank: Varo is a nationally chartered digital bank offering checking, savings, and credit products to underbanked consumers. It also partners with the Socure First-Party Fraud Consortium alongside Green Dot, making it a peer both in consumer banking and in consortium-based fraud prevention.
• Cross River Bank: Cross River is a BaaS-focused state-chartered bank powering fintechs with card issuing, lending, and embedded banking infrastructure. It competes directly with Green Dot Bank/Arc for BaaS partnerships and embedded finance customers.
• Marqeta: Marqeta is a card-issuing and Banking-as-a-Service platform powering fintechs and brands with debit/credit card infrastructure. It competes directly with Green Dot's Arc embedded finance platform for the same enterprise BaaS and card-issuing customers.
• Current: Current is a fintech offering mobile banking, debit cards, early direct deposit, and credit-building products aimed at underbanked consumers. It targets the same paycheck-to-paycheck demographic as GO2bank with overlapping features.
• Chime: Chime is a digital-first consumer bank offering fee-free checking, early direct deposit, savings, and secured credit cards to underbanked Americans. It competes head-to-head with GO2bank in the paycheck-to-paycheck segment that is Green Dot's core demographic.
• Pathward Financial (formerly MetaBank): Pathward (MetaBank) is a bank holding company with a nearly identical business model to Green Dot: prepaid cards, tax refund processing, BaaS, and consumer finance. It competes for many of the same enterprise partners and consumer segments.

Broad incumbents

• PayPal: PayPal offers a debit card, Venmo debit card, direct deposit, and BaaS-style partner banking products. While much larger and broader in scope, it overlaps directly with Green Dot's prepaid/debit and consumer cash-access offerings.
• SoFi: SoFi is a chartered digital bank offering checking, savings, debit cards, credit, and a BaaS-style Galileo platform. It overlaps with Green Dot in consumer digital banking and BaaS infrastructure while also being a Socure FPFC consortium peer.

Emerging players

• Synctera: Synctera is an emerging Banking-as-a-Service platform pairing community banks with fintechs for card issuing, deposit accounts, and compliance. It targets many of the same BaaS customers as Green Dot's Arc platform, though with a narrower product scope today.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/greendotcards
• Facebookfacebook.com/GreenDot
• LinkedInlinkedin.com/company/green-dot-corporation

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries6 records

Funding overview

Funding rounds7 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments2 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Green Dot