PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Green Dot Targets Retail POS Market, Acquires Loopt

Mercator Advisory Group by Mercator Advisory Group
March 9, 2012
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

This article discusses the recent acquisition of Loopt by Green Dot:

Green Dot Corp. has agreed to buy location-based deals company Loopt Inc., the prepaid card marketer announced March 9.

Green Dot, of Monrovia, Calif., said the acquisition would allow it to build out a mobile wallet and rewards system. The deal, which Green Dot expects to close this month, also would help to improve customer retention and target new consumer segments, the company said.

Green Dot agreed to pay $43.4 million for Loopt. About $9.8 million of that is to be set aside as a retention pool for certain Loopt employees, Green Dot said. It also plans to keep Loopt’s Mountain View, Calif., headquarters.

In a succinctly worded statement, Steve Streit indicates the belief that mobile phones will change the way people manage money, shop, and pay – and so given this is discussed around the acquisition of Loopt, one assumes Social interaction is a major contributor to the impact mobile will have. He also goes further, however, indicating that there is an opportunity for Green Dot to become a supplier of mobile technology solutions for the POS.

“We believe that mobile phones have the potential to change the way people interact with their bank, control their money, and pay for goods and services,’ Steve Streit, Green Dot chairman and chief executive, said in a press release.

“When Loopt’s assets are layered into Green Dot’s platform, we believe that a significant opportunity emerges for Green Dot to become a large-scale player in mobile technology solutions at the retail point of sale,” he said.

How Green Dot will achieve this lofty goal is left unstated.

Click here to read more.

Tags: Prepaid
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023
    bank data

    Interconnectivity, Data Sharing, and Security Are Vital for Banks to Thrive

    January 19, 2023
    B2B Payments, cryptocurrency

    Crypto as a Practical Solution to B2B Payments

    January 18, 2023
    AR, accounts receivable

    Digitizing AR Would Address One of Executives’ Biggest Concerns About Economic Instability

    January 17, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Brighterion eBook - The power of today’s market-ready AI to reduce transaction fraud