Prepaid Technologies, a leading provider of business payment solutions, announced the acquisition of Karmic Labs’ dash™, the San Francisco-based purchasing card portfolio and expense management solution, as well as other select assets.
The deal, which closed on March 1, 2019, adds several members of Karmic’s key personnel to the Prepaid Technologies team, with team members now operating throughout North America. The addition of the dash platform also adds a robust expense management solution and extensive card portfolio to the Prepaid Technologies suite of offerings, including payroll programs, business purchasing cards, reward and incentives and per-diem card offerings. Current Karmic and dash customers will benefit from an expanded range of services, products, and resources including Prepaid Technologies’ dedicated customer support.
“Integrating the dash purchasing card structure into our existing portfolio increases efficiencies and enhances our growing suite of solutions for businesses and payments service providers,” said Prepaid Technologies CEO, Stephen Faust. “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.”