Citi Cards, Green Dot Create Prepaid Cards

Citi Cards and Green Dot Corp. have struck a deal to create Citi-issued gift cards and reloadable prepaid debit cards.

Citi Cards plans to issue prepaid MasterCard and Visa debit cards co-branded with the Citi logo and/or that of its retail partners. The cards can be reloaded with the Green Dot MoneyPak at more than 40,000 retail locations nationwide, and by direct deposit.

“At Citi, we’re constantly looking for ways to expand our card offerings to consumers,” Rick Blasi, senior director, Citi Cards, said. “This relationship also allows us to expand the breadth of services we can provide to our retail partners by offering them co-branded gift and prepaid cards for their customers, as well.”

The co-branded gift and prepaid cards will be available through Citi and retail partners in the near future, the company said. Citi Cards and Green Dot are still working out details regarding how to promote the cards’ availability.

Green Dot offers financial products and services through several national retail chains, including Wal-Mart, Walgreens. CVS/Pharmacy, Rite Aid, Radio Shack and Kroger.