With Green Dot’s help, Russell Simmons has launched a new product, the RushCard Live Reloadable Prepaid Visa(R) Card, into retail locations across America.
“Green Dot Corporation GDOT +0.29%- an industry-leading provider of low-cost banking and payment solutions – and UniRush, LLC, co-founded by Russell Simmons, today announced the launch of the RushCard Live Reloadable Prepaid Visa(R) Card [www.RushCardLive.com], a new prepaid card that will begin rolling out to thousands of Green Dot partner retailers nationwide and be available for purchase later this month.”
This is a different product from the existing RushCard and is issued by Green Dot Bank:
“The RushCard Live Reloadable Prepaid Visa Card, issued by Green Dot Bank, Member FDIC, is a convenient and cost-effective alternative to a traditional bank account. RushCard Live, available only at retail, offers attractive features, including: early payroll direct deposit, which enables customers to receive their direct-deposited paycheck up to two days before payday; pass-through FDIC insurance coverage up to the applicable limits; and a choice of usage plans.”
From Green Dot’s perspective, adding this UniRush product to the rack will further expand the prepaid category, and expanding the prepaid category is an area Green Dot leads in:
“We believe that launching RushCard Live will be helpful in expanding our overall category sales by providing our retailers with a differentiated and innovative product with strong brand appeal,” said Steve Streit, Chairman and CEO, Green Dot Corporation.
The full press release is here.