Wright Express acquires Fla. firm
Payment processor Wright Express Corp. has acquired a Tampa, Fla.-based payroll card and electronic paystub provider.
South Portland-based Wright Express has acquired the assets of rapid! PayCard, which offers prepaid payroll debit cards, e-paystubs and e-W2s, for an undisclosed amount, according to a press release. Michael Dubyak, chairman and CEO of Wright Express, said the acquisition will allow the company to "jump start our entrance into the domestic prepaid market and broadens our payment solutions offerings." Wright Express provides fleet and corporate payment processing and information management services, and the company and its subsidiaries employ more than 850 people in six countries.
It's the second acquisition in a year for the company. Last September, Wright Express acquired the Australian assets of Retail Decisions, which consisted of its fleet and prepaid card businesses.
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