Wright Express Corp. on April 1 announced it has acquired rapid! PayCard, a privately held provider of prepaid payroll debit cards and electronic pay stubs. The South Portland, Maine-based company, which specializes in fleet cards, said it was a cash deal but did not disclose the terms.
The acquisition of Tampa, Fla.-based Rapid! PayCard, founded in 2004, will enable Wright Express to “jump-start our entrance into the domestic prepaid market,” while broadening the company’s offerings, Michael Dubyak, Wright chairman and CEO, said in a press release.
Wright Express in September 2010 completed the acquisition of Australian prepaid and fleet card operator Retail Decisions Ltd., when the company announced it was interested in diversifying its revenue sources (
