As per the clauses of the deal, Green Dot will serve as a co-manager on the portfolio with UniRush.
The deal will enable Green Dot to make the product available for sale by select Green Dot retail partners, including leading national grocery, mass merchandise, drug and convenience store chains, the card issuer said.
RushCard founder and prepaid card innovator Russell Simmons said Green Dot has a long-standing reputation and expertise in the prepaid industry and the retail distribution channel and the firm is thrilled to be partnering with them.
"By partnering with Green Dot, we will effectively enhance our overall customer experience by making it even easier for individuals to access RushCard when they want, where they want," Simmons added.
Green Dot is a bank holding company regulated by the Board of Governors of the Federal Reserve System, which provides low-cost banking and payment solutions to a broad base of US consumers.
