Green Dot Corporation announced the addition of three fintechs to its growing list of Green Dot Network partners. REPAY, FACEBANK and Pana are now able to offer accessible and affordable cash transactions and services to customers via Green Dot's vast network of thousands of retail locations nationwide. According to the Federal Reserve, demand for cash remains high and seamless access to cash services remains critical among U.S. consumers and small businesses: Cash payments account for nearly one in five (18%) transactions nationwide.

Demand for cash has increased from pre-pandemic levels, with people holding on to more cash compared to 2019 across all age groups (and 18- to 24-year-olds seeing the largest increase). 93% of consumers have no plans to stop using cash. These three fintechs join the network as it has continued expanding to support more than 180 partners and brands at the end of 2023: Purpose-led neobanks supporting underserved minority groups.

Min minority groups tend to be significantly more dependent on cash than the average consumer, particularly for the "unbanked," where Hispanic Americans (10%) substantially outnumber White Americans (3%)). FACEBANK is a neobank offering checking accounts, loans and more to Latin American consumers and businesses. Pana is a Y Combinator-backed startup focused on reducing the financial gap among Latino immigrants by offering virtual checking accounts and an embedded remittance feature that allows them to send money abroad.

Payment platforms modernizing bill pay for consumers and businesses. REPAY is a leading provider of vertically integrated payment solutions serving clients in the personal finance, auto finance, credit union, mortgage and other industries. For more than 20 years, Green Dot has expanded access to modern banking and payment tools for consumers and businesses.

The Green Dot Network of more than 90,000 retail locations throughout the U.S. offers cash-in and cash-out capabilities in stores including Walmart, Walgreens, 7-Eleven, CVS and more. As traditional banks continue closing brick and mortar locations across the U.S., particularly in underbanked communities, the Green Dot Network provides seamless access to cash services for almost all U.S. consumers, with 96% of the U.S. population living within three miles of a Green Dot Network location. The Green Dot Network's money movement capabilities also enable partners to offer their customers the ability to move funds digitally between bank accounts.