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{DEM404BOYZ} RUSSELL SIMMONS SELLS RUSHCARD COMPANY FOR $147 MIL.

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Uncle Russy is cashing out with the competition, Green Dot. Hit the link for more info.

RushCard, the prepaid check card organization established by hip-jump big shot Russell Simmons, is being purchased by adversary Green Dot for $147 million. Green Dot said Monday it will purchase UniRush, the parent organization of RushCard and in addition the Rapid! finance platinum card. Simmons began RushCard in 2003 as one of the principal prepaid cards to concentrate on minority clients and charge lower-than-normal expenses.

Prepaid platinum cards are to a great extent utilized by the “unbanked,” or the individuals who don’t have a checking or investment account and to a great extent depend on money to pay their bills month to month. In spite of RushCard’s 2015 issues, Streit said Green Dot is purchasing RushCard to a great extent for the name acknowledgment and also its sizeable client base of 750,000 individuals. Green Dot arrangements to hold the RushCard name and brand alongside its different items.

“Having his name related with RushCard is a major motivation behind why we are getting it,” Streit said in a meeting.

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