Target Company Irvine, California based Global Cash was

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iPhone Cases Amy, thank you. You were so passionate about that I love it. Coming up on our big board,. Sign in / Join NowQuick Take Payroll and talent management company ADP (ADP) has announced it has acquired Global Cash Card for an undisclosed amount.Global Cash Card has created a direct digital payment processing system for paycards used by businesses of all sizes.With the deal, ADP gains a significant player in the paycard space to add to its existing solution as it pursues a younger demographic and adjacent opportunities such as the underbanked and ‘gig economy’ workforce.Target Company Irvine, California based Global Cash was originally founded in 1995 as a ‘managed solutions’ provider and developed its current offering in 2002. Services.Below is a keynote video of Global Cash’s system:(Source: Global Cash Card)Global Cash Card’s primary offerings include a variety of paperless card payment solutions aimed at particular use cases:Payroll Cards Incentive Cards Gift Cards Travel Per Diem Government The firm operates in Visa (NYSE:V)/MasterCard (NYSE:MA) certified operation centers and says it is ‘certified as a direct processor on multiple financial networks.’Acquisition Terms And Rationale Neither firm disclosed the acquisition price or terms and ADP didn’t file an 8 K or disclose a change in financial guidance, so I presume the deal was for a non material amount.The combination of Global Cash Card and ADP promises to expand ADP’s existing ALINE Card offering to appeal to younger business users such as millennials and Gen Z demographics.As ADP stated in the deal announcement:With this acquisition, ADP gains an industry leading proprietary digital payment processing platform that enables innovation and added value services for clients and their workforces, as well as a large, diversified client base that has shown consistent growth. Paycards have been the fastest growing method of pay in recent years, in part because of their popularity with Millennials and Gen Z iPhone Cases.

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