CINCINNATI, Jan. 12, 2015 /PRNewswire/ -- UniRush, LLC, a leading provider of prepaid solutions, announced today that they acquired the rapid! PayCard business from WEX Inc. on January 7, 2015. Founded in 2003 and based in Tampa, FL, rapid! PayCard is one of the largest providers of prepaid payroll card solutions in the US market.
"We are extremely excited to make this announcement on this very important day for UniRush, as we have diversified to become a significant prepaid player in both the consumer and corporate verticals," said Rick Savard, CEO and Chairman of UniRush.
Chris Ruppel, one of the original founders of rapid! PayCard, who has joined UniRush as SVP and General Manager of Corporate Payments to run this key business vertical, 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."
"The addition of rapid's 1700 corporate relationships gives us enormous opportunity to develop a broad array of prepaid products and extend the RushCard brand," said Jason Miles, Chief Product Officer at UniRush. Miles continued, "The acquisition of rapid! PayCard advances UniRush's long-term strategy to diversify our product offering while extending our scalable business model into high-growth, high-value payments markets."
UniRush is a leading provider of technology-based payments solutions that provides consumers with access to tools that enable them to achieve their personal and financial goals. Similar to UniRush, rapid! PayCard has established strong paycard solutions through its innovative technologies and strong customer base. Together they will enhance UniRush's position in an attractive vertical that will serve as one of the key growth opportunities of UniRush's business strategy.
rapid! PayCard and its employees will continue to be located in Tampa, FL, and the brand will continue as UniRush's flagship paycard brand.
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About UniRush, LLC
UniRush, LLC, which helped pioneer the prepaid debit card industry with the RushCard, one of the first general purpose reloadable prepaid debit cards in the marketplace, provides members with access to services that enable them to achieve their personal and financial goals. UniRush offers Americans an array of basic financial services via the RushCard. To learn more about RushCard, visit www.rushcard.com or find us at Facebook.com/Rushcard or on Twitter @RushCard.
SOURCE UniRush, LLC