Page 30 - Pay Magazine s2014

pay awards
rIsIng stAr
The organization that’s new to prepaid and o ering the program, technology, product or service with the potential to move the industry forward.
Karmic Labs
what it is: Karmic Labs in 2015 launched the Dash Prepaid MasterCard, a business prepaid MasterCard, along with the BizNow mobile app with FIS.
why it works: With Dash, users can move money to their cards via ACH transfers, and companies can add employees without need- ing credit checks, enabling nimbler nancing.
why it matters: Gives businesses of any size more control over their expenses and dramati- cally improves the employee process of paying for and reconciling expenses.
differentiators: Real-time money management, including transfers to employee cards and transaction data, synced with the swipe.
As a purchase is made, email noti cations
are sent to appropriate users auto-tagging the expense in an organization’s categories. The employee replies to the email with a picture of the receipt and an explanation, and the expense report is led. Flexible and extensible API set enables the technology to be utilized by other players.
what the judges said: Expands the prepaid market in a key growing vertical by taking on the paper-based paradigm of business expense management—o ering tools that don’t rely on credit and are more accessible to businesses of all sizes and any employees regardless of credit history.
28
wInners
Prepaid Ventures
Set for Life
MasterCard Worldwide, Sunrise Banks
Introduced Dash Prepaid MasterCard and BizNow mobile app with FIS to support real-time transfers and transaction data to simplify corporate expenses for
businesses and employees.
prepaid