What If You Could Make Prepaid More Profitable?
What does Russell Simmons know that banks don’t? GPR can be profitable. Find out how.
RushCard
CFPB Orders UniRush, Mastercard to Pay $13 Million over RushCard Outage
The CFPB is “putting the prepaid industry on notice that companies will face the consequences if consumers are denied access to their money or to the services they pay for and on which they have the right to depend.” In its first enforcement action against prepaid providers, the bureau on Feb. 1 announced that UniRush and Mastercard will pay a combined $13 million for a 2015 service disruption that left cardholders without access to their funds.
Report: Green Dot Wants to Buy UniRush
Green Dot reportedly wants to buy competitor UniRush—a deal that would unite two of the biggest companies in the GPR space and give Green Dot a “foothold” in the payroll card business. The deal, if it comes to fruition, could suggest that the industry, which has been contracting through consolidation for the past several years, isn’t done yet.
