Green Dot Renews With Walmart

Pasadena-based prepaid debit card provider Green Dot Corporation, which is led by Steve Streit, said Monday afternoon that it is in a new, long term agreement with Walmart. Green Dot said it will remain the program manager and issuer for Walmart's MoneyCard, in a deal which will cover the next five years. Green Dot rose to prominence--and an IPO--almost entirely on the strength of its business through Walmart. The company had launched the Walmart MoneyCard with Walmart back in 2007, helping to create one of the most successful companies backed by Southern California's angel investment groups, including the Tech Coast Angels and Pasadena Angels.