The prepaid card issuer Green Dot has promoted Kuan Archer to become its chief operating officer.

Archer has served as chief technology officer at Pasadena, Calif.-based Green Dot since 2012. He previously held positions at Rovi, Symantec and Microsoft.

Archer will be paid a base salary of $440,000, and his bonus amount for this year is targeted at $352,000, according to a Green Dot securities filing. He also received 50,000 restricted stock units.

Green Dot Chief Executive Steve Streit praised Archer for his work as chief technology officer. "I know that his expanded leadership in the COO role will help Green Dot continue to evolve and stay agile in this ever-changing industry," Streit said in a news release.

Green Dot has not had a chief operating officer since the end of 2012, when William Sowell stepped down from the position.