Green Dot, a US-based provider of prepaid debit card products and prepaid card reloading services, has introduced a new technology, Reload @ the Register, which makes retail cash reloading faster and easier.
Powered by Green Dot’s swipe interface technology (SwIT) functionality, the new solution is designed to make reloading cash onto a prepaid card faster and more efficient than using a paper reload chit.
Go deeper with GlobalData
To avail the service, prepaid cardholders must first register at any participating retailer to conduct cash reload transaction. The cashier collects the cash along with any reload fee and then swipes the customer’s prepaid card through their point-of-sale (POS) card terminal.
The retailer’s terminal is connected to Green Dot’s data processing centre where it is able to view the transaction in real-time and immediately credit reloaded funds to the customer’s card account.
Green Dot Reload Network general manager, Helena Mao, said they expect Reload @ the Register to be a big win for all stakeholders in the prepaid card reload value chain.
"For the retailer, it means that they will no longer have to provide shelving for paper reload chits, which will reduce in-store labour to re-stock and maintain those products. For the prepaid program manager, it means a more intuitive reload process that’s easier for their cardholders to learn.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData"And for prepaid cardholders, Green Dot’s Reload @ the Register service allows them to enjoy a faster, easier and more intuitive reload transaction without having to fuss with the intermediary step of transferring funds from the paper chit to their prepaid card," Mao added.
