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Walmart Introduces Reloadable Prepaid Card Service

Walmart is launching an affordable and convenient way for customers to load money onto individually branded prepaid cards such as Account Now, Achieve Card, H&R Block, Momentum, Money Network, MyVanilla, NetSpend, PayPal, Rush Card and Upside, among others.

Available today in more than 3,800 Walmart stores nationwide, the Walmart Rapid Reload service allows consumers to add money to their cards at any register, for a low price of $3.74. Until now, consumers have been paying up to $5 to add cash to their cards.

The new cost-saving service is made possible through a Walmart partnership with Green Dot Network, the InComm Vanilla Reload Network and the First Data Money Network, companies with which the majority of prepaid cards in the U.S. are affiliated. According to a recent study by Mercator Advisory Group, 56 million Americans have a prepaid card or payroll card.

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“Many of our customers continue to seek alternatives that improve both the convenience and cost of everyday financial services,” said Daniel Eckert, VP of Financial Services for Walmart U.S., in a First Data press release. Rapid Reload “is another way we are providing millions of Americans with affordable ways to manage their money.”

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