
Directo
Issuer and manager of corporate payroll cards.
Date | Investors | Amount | Round |
---|---|---|---|
investor | €0.0 | round | |
N/A | €0.0 | round | |
N/A | €0.0 | round | |
N/A | Acquisition | ||
Total Funding | 000k |
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Directo, Inc. is a financial services company founded in 1998 and based in Atlanta, Georgia. The company specializes in providing domestic paycard programs for corporate clients. Initially, Directo focused on the unbanked Hispanic market with low-cost, paycard-accessed "checkless checking" accounts. It later expanded its services to a broader range of customers and distribution partners within the U.S. paycard market.
The company's core business involves issuing and managing Payroll and General Purpose Reloadable (GPR) cards, which are accepted wherever VISA and MasterCard debit cards are used. Directo's services cover the entire process, from designing custom programs based on client needs to providing training and support. Its primary clients include financial institutions, professional employment organizations, staffing firms, agricultural businesses, and payroll providers.
In July 2012, Directo was acquired by Brightwell Payments, an Atlanta-based payments technology company. At the time of the acquisition, Jim McCarthy served as the Chief Executive Officer of Directo. The acquisition was part of Brightwell's strategy to increase its presence in the paycard market and enhance efficiencies through increased scale.
Keywords: paycard programs, payroll cards, GPR cards, prepaid cards, checkless checking, financial services, corporate payments, payment solutions, payroll providers, staffing firms, financial institutions, agricultural businesses, employee payments.