ADP buys Global Cash Card in payroll card push
Roseland, N.J.-based ADP has purchased Global Cash Card, an Irvine, Calif.-based provider of electronic payments services, to consolidate operations in the payroll card industry, which serves many freelancers and temporary workers.
Global Cash Card’s technology enables employers to deliver wages through a payroll card, with tools including online bill payment, expense-management and a secondary account useful to unbanked and underbanked consumers, ADP said in a Thursday press release.
After integrating Global Cash Card’s customers, ADP will serve more than 4 million consumer accounts on its proprietary payments processing platform, according to a spokesperson.
“As the gig economy changes the way people earn a living, so too does it change the way companies need to pay their workforce,” said Doug Politi, ADP’s president of added value services, in the release.
Terms of the deal were not disclosed.