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American Express (AXP) and Wal-Mart (WMT) launch Bluebird - "an alternative to debit and...
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Monday, October 8, 2012, 8:14 AM ETAmerican Express (AXP) and Wal-Mart (WMT) launch Bluebird - "an alternative to debit and checking accounts." The service appears designed to allow customers the sorts of things they're used to, but no longer getting for free from basic checking. The most immediate casualty is Green Dot, which now must face cheaper competition from its largest customer (Wal-Mart). GDOT -14% premarket. (PR)
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This news story has 3 comments:
Why is that, I wonder?
What is your point?
Example:
-Transactions where Money cant change hands directly such as in Prisons.
-Move Drug cash into an easily transportable medium for email / transport.
Drug Cash loaded into green dot cards in the USA, then the numbers are emailed to the Boss in Mexico where he cashs out the numbers. Money is then wired back to a US Bank account, the drug money is now laundered...
Remember it is not about the card, it is about the number on the card, each number can hold up to $3500, All you need is the number off the prepaid card to get the $$$$.