UniRush, a prepaid solutions provider, has acquired rapid! PayCard, a US-based prepaid payroll card business, from WEX.
The acquisition of rapid! PayCard will encourage UniRush’s long-term strategy to diversify its product offering while extending into high-growth, high-value payments markets.
rapid! PayCard will continue to operate from Tampa, Florida with its employees and will be run as a flagship paycard brand of UniRush.
UniRush will leverage rapid! PayCard’s 1,700 corporate relationships to develop a broad range of prepaid products expanding the RushCard brand.
Chris Ruppel, one of the original founders of rapid! PayCard, will oversee the Corporate Payments vertical of UniRush as the senior vice president and general manager.
Ruppel said: "Our plan is to aggressively scale the paycard business, leveraging the infrastructure and expertise at UniRush with one of the best paycard companies in the industry."