Green Dot announced it will buy hip hop mogul, Russell Simmons‘ RushCard business for $147 million. Simmons started RushCard in 2003. The company issues pre-paid debit cards with lower than average fees targeted toward minority communities. The RushCard’s customer base is estimated to be around 750,000 users. The sale includes Rapid! the payroll debit card as well. Rapid! has over 2,500 corporate customers that use the card as a payment option for employees who may not have regular bank accounts.
The grind salutes you sir!