This agreement will provide merchants that process on Chase Paymentech’s proprietary multi-channel payment platform the ability to accept cash transactions through their existing online and phone interfaces by accepting Green Dot’s MoneyPak as a form of payment. By accepting MoneyPak, Chase Paymentech merchants can make their products and services available to the 80 million customers who are unbanked or prefer to transact in cash.
The Green Dot Network is a retail-based cash acceptance networks in the US, and MoneyPak would be the first cash-based payment solution available for use by Chase Paymentech’s merchants, which can now add the product to their list of accepted payment processes through their current connectivity.
The Green Dot MoneyPak is a safe and affordable way of turning cash into a digital form of payment. It is one of the leading products for reloading cash onto prepaid cards, and is used to make payments and add cash to accounts. MoneyPak is a payment solution that empowers consumers who do not use conventional banking or credit card products to make purchases.
Consumers can purchase a MoneyPak for $4.95 at any Green Dot retailer location and use that money wherever MoneyPak is accepted as a form of payment or funding.
Mike Duffy, president and CEO of Chase Paymentech, said: Chase Paymentech already supports more payment types than any other payment provider. The integration of MoneyPak acceptance into our payments platform provides a seamless and simple way for our merchants to accept payments from cash-carrying customers in a non face-to-face environment.
