MasterCard rePower Adds Over 40,000 Locations

Under the agreement, MasterCard and Maestro prepaid cards with MasterCard rePower functionality can be loaded through the Green Dot Network and Green Dot MoneyPak at over 40,000 retail locations nationwide, including Wal-Mart, CVS/Pharmacy, Walgreens, Rite Aid, and Radio Shack.The MasterCard rePower point of sale network was launched last December as a solution to enable MasterCard prepaid cardholders to easily add money to their eligible prepaid accounts. It is targeted primarily towards the millions of Americans without a traditional banking relationship, a segment of the population that research firm Celent estimates to be 14 million households.As part of the agreement between the two companies, MasterCard rePower enabled cards will be reloadable through the Green Dot Networks MoneyPak product as well as through a one swipe technology via electronic POS device at select Green Dot retailers. In addition, Green Dot will provide management services for MasterCard rePower including merchant relationships and processing services. Full implementation of the program across the Green Dot Network is expected to be completed later this year.