Payments News

Green Dot Says It’s the Go-Between in the New Walmart-PayPal Cash Service

Nov 07, 2018

When retail giant Walmart Inc. and PayPal Holdings Inc. announced nearly a month ago that PayPal customers will be able to withdraw cash from, and deposit cash into, their accounts at U.S. Walmart stores, a major partner in that service wasn’t mentioned. On Wednesday, prepaid card services provider Green Dot Corp. revealed it’s the one that makes it all possible behind the scenes.

The Walmart-PayPal service, expected to debut this month, sends a bar code to the PayPal account holder’s mobile phone, which can be redeemed for a cash withdrawal or deposit at a Walmart store. The program uses Green Dot’s so-called Banking-as-a-Service platform that enables outside companies to use Green Dot technology to develop new financial products.

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