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Prepaid Technologies Acquires Dash from Karmic Labs

Business payment solutions provider Prepaid Technologies has acquired Karmic Labs Dash, as well as other select assets, reports Jane Connolly of Fintech Futures (Finovate’s sister publication.)

The Dash prepaid purchasing card portfolio and expense management solution will be added to Prepaid Technologies’ existing suite of services. Several members of Karmic’s key personnel will join the Prepaid Technologies team.

Prepaid Technologies provides customers with a mobile-focused platform enabling business owners to move money in real-time to individual cards and accounts for everyday purchases.

“This cardholder portfolio more than doubles our existing expense management business, elevating purchasing to the level of our payroll, incentive and rewards lines of business,” said Prepaid Technologies CEO, Stephen Faust.

Over the coming months Prepaid Technologies will integrate the Dash portfolio and will provide clients with access to additional solutions, including: payroll card programs that it claims will improve bottom-line performance and value for employees; reward and incentive cards; state-of-the-art API Payment Integrations that will support faster, more efficient internal operations.

Current Karmic and Dash customers will also receive an expanded range of services, including Prepaid Technologies’ dedicated customer support.

Karmic Labs demonstrated Dash at FinovateSpring 2015. The company was founded in 2014 and is headquartered in San Francisco, California.