Brightwell Payments, a payments company offering prepaid card solutions for corporations and consumers, is acquiring paycard programme provider Directo, to expand its presence in the paycard market (view press release). Brightwell Payments’ services incorporate programme design, marketing, technology, distribution and fulfillment services for a number of prepaid products including general purpose reloadable, loyalty, award and promotional, and domestic and international payroll cards. Directo’s clients comprise of financial institutions, professional employment organisations, staffing firms, agricultural businesses and payroll providers.
“There are clear business synergies that will be achieved through the acquisition of Directo. Directo’s product line can be easily integrated, and it will provide a recurring customer base, new distribution channels and niche market opportunities,” said Kenneth M. Goins, CEO of Brightwell Payments. “We will be able to drive scale by leveraging our existing infrastructure and adding our feature-rich functionality to the Directo product suite.”