Green Dot Corporation, a provider of banking and payment solutions, has entered into a definitive agreement to acquire Loopt, a social location-based service that connects people. Green Dot indicated that the acquisition will provide a number of key strategic benefits that are expected to improve customer acquisition and retention of its current prepaid debit card products, drive the adoption of new banking and payment products targeted to new segments of consumers, and provide the opportunity for Green Dot to become a leader in mobile wallets, rewards and payment solutions at retailers nationwide, the company said.