Citi Cards and Green Dot Corporation Sign Strategic Agreement to Provide Prepaid Cards to Consumers

Relationship Expands Retail Distribution of Prepaid Debit Cards and Gift Cards

Citi, the world’s largest provider of credit cards, and Green Dot Corporation, a leading provider of retail-based financial products and services, today announced a strategic alliance to provide Citi-issued general purpose gift cards and reloadable prepaid debit cards to consumers. In addition, Citi Cards’ retail business partners will have the opportunity to offer co-branded versions of these prepaid products to their customers. With this partnership, Green Dot further expands its national retail distribution of prepaid products.

“At Citi, we are continually looking for ways to broaden our card product offerings to consumers as well as expand the breadth of services we can provide to our retail partners”, said Bill Johnson, Executive Vice President of Citi Cards. “This strategic alliance with Green Dot allows us to expand our customer base and offer prepaid card options directly to consumers and through our partners’ retail channels.”

Together, Green Dot and Citi will offer innovative prepaid financial solutions that are more accessible to millions of underserved consumers. Citi will issue prepaid MasterCard and Visa debit cards co-branded with Citi and/or its retail partners. Both the gift cards and the prepaid debit cards can be used for purchases everywhere MasterCard and Visa debit cards are accepted. The prepaid debit card products can be reloaded with the Green Dot MoneyPak®, the leading product for reloading cash onto prepaid cards, at tens of thousands of retailer locations, and by direct deposit. Prepaid debit cardholders will also have ATM access to funds at Citibank and other network cash machines.

Steve Streit, CEO and founder of Green Dot Corporation states, “We are very proud to be working with Citi. They are a terrific organization with great retail partnerships. Citi and Green Dot share a common mission to provide core financial products and services to consumers through convenient retail locations. By combining the power of both companies, these important financial products and services will be more broadly accessible nationwide.”

About Citi

Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at citigroup.com or citi.com.

About Green Dot Corporation

Green Dot Corporation is a leading provider of retail-based financial services for America’s underserved community. The company offers consumers financial products and services through thousands of leading retailer locations nationwide including Wal-Mart, Walgreens, CVS/Pharmacy, Rite Aid, Radio Shack and Kroger, including Kroger store chains Food4Less, Fred Meyer, King Soopers, Ralphs and Smith’s. Green Dot’s products include Green Dot MasterCard®, and Visa® branded prepaid debit cards, Green Dot credit cards and the Green Dot MoneyPak®. Green Dot is headquartered in the greater Los Angeles area. To learn more about Green Dot’s products and services, please visit http://www.greendotonline.com and http://www.moneypak.com Green Dot® and MoneyPak® are registered trademarks of Green Dot Corporation.

Contacts

Media:
TMGpr
Tami McCarthy, 212-750-5755
tami {at} TMGpr(.)com
or
Citi
Samuel Wang, 212-559-0499
wangs {at} citi(.)com
or
Green Dot Corp.
LB Baer, 626-775-3497
lbaer {at} greendotcorp(.)com