Posted on by Newsdesk

Green Dot Announces Partnership with Samsung to Introduce New Samsung Wallet Features

Green Dot Announces Partnership with Samsung to Introduce New Samsung Wallet Features

Powered by Green Dot’s embedded finance platform, Arc, Samsung Wallet’s nearly 12 million U.S. users will gain “Tap to Transfer” peer-to-peer functionality, with more features to come

PROVO, Utah–(BUSINESS WIRE)–
Green Dot Corporation (NYSE: GDOT) today announced a new partnership with Samsung Electronics to add new features and functionality to Samsung Wallet1, the secure, go-everywhere app for conveniently using and organizing daily essentials. Leveraging Green Dot’s comprehensive and configurable embedded finance platform, Arc, Samsung Wallet’s U.S. users will soon have access to Tap to Transfer2, a peer-to-peer (P2P) tool enabling users to quickly transfer funds within minutes3 from Samsung Wallet to other digital wallets or contactless debit cards, with additional features and functionality planned.

“We are thrilled to partner with Samsung to bring seamless and affordable financial services to their Samsung Wallet users, starting with Tap to Transfer, with more value-driven and user-focused innovations to come,” said Chris Ruppel, Interim President, Green Dot. “Samsung’s long history of innovation has established them as a powerful player in financial technology, and we look forward to growing the Samsung Wallet product with them through the power of our Arc platform for years to come.”

Arc is the embedded finance platform of services featuring all of Green Dot’s secure banking and money processing capabilities designed to fuel value, loyalty and growth for consumers and businesses. Arc by Green Dot powers some of the world’s most trusted brands and thousands of other businesses with seamless, secure and useful financial tools and experiences.

Integrated with Green Dot Bank, Arc provides partners with leading FDIC-insured banking products and tools, plus regulatory and compliance expertise, oversight and support. The Arc platform is cloud-based, modular and scalable by design – configurable to meet a wide range of business needs and goals, and flexible to adapt as our partners grow. Arc’s end-to-end banking services are powered by enterprise-grade APIs and offer partners access to comprehensive customer support, fraud protection, the largest retail deposit and ATM network in the U.S., and much more. For more information, visit greendot.com/arc.

“Our partnership with Samsung presents an enormous opportunity to bring convenient and instant peer-to-peer payments to Samsung’s vast user base,” said Crystal Bryant-Minter, SVP, Money Movement, Green Dot. “It also exemplifies Arc’s potential to power leading brands with seamless, secure financial experiences that deliver real value to everyday consumers.”

Samsung Pay allows users to tap to pay with Samsung devices anywhere near-field communication (NFC) is available, making in-store payments quick and secure and also allowing in-app and online purchases at participating merchants. Tap to Transfer expands payment options available to Samsung Wallet users by enabling P2P transfers not only between Samsung Wallet, but also third-party tokenized NFC card-based wallets like Apple Wallet® or Google Wallet™ and any other contactless chip-enabled debit card.

Samsung Pay, a service within the Samsung Wallet app, is a quick, easy and secure way for users to organize and access important documents and identifications – from bank cards and digital keys to travel passes, driver’s licenses and student IDs – with just one swipe. The Samsung Wallet platform is protected by Samsung’s security platform, Samsung Knox, which includes fingerprint recognition and encryption to make sure users’ important data are protected. As Samsung continues to collaborate with Green Dot and leverage the support of its scalable and configurable integrated Arc platform, the capabilities of Samsung Wallet will continue to grow.

About Green Dot

Green Dot Corporation (NYSE: GDOT) is a financial technology platform and registered bank holding company that builds banking and payment solutions to create value, retain and reward customers, and accelerate growth for businesses of all sizes. ​For more than two decades, Green Dot has delivered financial tools and services that address the most pressing financial needs of consumers and businesses, and that transform the way people and businesses manage and move money.

Green Dot delivers a broad spectrum of financial products to consumers and businesses through its portfolio of brands, including: GO2bank, a leading digital and mobile bank account offering simple, secure and useful banking for Americans living paycheck to paycheck; the Green Dot Network (“GDN”) of more than 95,000 retail distribution and cash access locations nationwide; Arc by Green Dot, the single-source embedded finance platform combining all of Green Dot’s secure banking and money processing capabilities to power businesses at all stages of growth; rapid! wage and disbursements solutions, providing pay card and earned wage access services to more than 7,000 businesses and their employees; and Santa Barbara Tax Products Group (“SBTPG”), the company’s tax division, which processes more than 14 million tax refunds annually.

Founded in 1999, Green Dot has managed more than 80 million accounts to date both directly and through its partners. Green Dot Bank4 is a subsidiary of Green Dot Corporation and member of the FDIC. For more information about Green Dot’s products and services, please visit www.greendot.com.

____________________

1

A full list of devices compatible with Samsung Wallet is available at https://www.samsung.com/us/samsung-wallet/faq/.

2

Requires a contactless and payments transaction-enabled Visa or Mastercard debit card from a participating U.S. bank. Fees and limits apply. Your financial institution or mobile carrier may charge you. See Samsung.com for details.

3

Actual funds availability varies depending on receiving financial institutions.

4

Green Dot Bank also operates under the following registered trade names: GO2bank, GoBank and Bonneville Bank. All of these registered trade names are used by, and refer to, a single FDIC-insured bank, Green Dot Bank. Deposits under any of these trade names are deposits with Green Dot Bank and are aggregated for deposit insurance coverage up to the allowable limits.

 

Media Contact:

Whit Chapman

Director, Communications, Green Dot

[email protected]

KEYWORDS: United States North America Utah

INDUSTRY KEYWORDS: Banking Consumer Electronics Technology Professional Services Payments Apps/Applications Software Internet Fintech Mobile/Wireless Finance

MEDIA:

Logo
Logo