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prepayd inc (PPDC) Details

PrepaYd, Inc., through its wholly owned subsidiary, Merchant Processing International, Inc. (doing business as Bank Freedom), provides the Bank Freedom Prepaid MasterCard Card and the Bank Freedom Prepaid Visa Card, an alternative payment solution that allows consumers to make purchases, pay bills, withdraw cash from ATM’s, and manage their money. The company also offers general purpose reloadable (GPR) cards, private label co-branded card programs, business travel and expense cards, and payroll cards, as well as prepaid debit cards. In addition, it provides merchant processing services that enable retailers to accept various brands of debit and credit cards. The company was formerly known as Prepaid Card Holdings, Inc. and changed its name to PrepaYd, Inc. in April 2011. PrepaYd, Inc. was incorporated in 1986 and is based in Newport Beach, California.

17 Employees
Last Reported Date: 02/23/12
Founded in 1986

prepayd inc (PPDC) Top Compensated Officers

Chairman, Chief Executive Officer, Chief Fina...
Total Annual Compensation: --
Vice President of Finance, Controller and In-...
Total Annual Compensation: --
Vice President of Customer Care for Bank Free...
Total Annual Compensation: --
Vice President of Compliance for Bank Freedom
Total Annual Compensation: --
Total Annual Compensation: --
Compensation as of Fiscal Year 2014.

prepayd inc (PPDC) Key Developments

PrepaYd, Inc Files Form 15

PrepaYd, Inc announced that it has filed Form 15 with the Securities and Exchange Commission to voluntarily deregister its common stock under the Securities Exchange Act of 1934, as amended.

SEC Orders Hearing On Registration Suspension Or Revocation Against PrepaYd

In conjunction with trading suspension, the Securities and Exchange Commission (SEC) also instituted public administrative proceeding to determine whether to revoke or suspend for a period not exceeding twelve months the registration of each class of the securities of PrepaYd, Inc for failure to make required periodic filings with the Commission. In the Order, the Division of Enforcement (Division) alleges that the company is delinquent in its required periodic filings with the Commission. In these proceeding, instituted pursuant to Exchange Act Section 12(j), a hearing will be scheduled before an Administrative Law Judge. At the hearing, the judge will hear evidence from the Division and the company to determine whether the allegations of the Division contained in the Order, which the Division alleges constitute failures to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 there under, are true. The judge in the proceeding will then determine whether the registrations pursuant to Exchange Act Section 12 of each class of the securities of the company should be revoked or suspended for a period not exceeding twelve months. The Commission ordered that the Administrative Law Judge in the proceeding issue an initial decision not later than 120 days from the date of service of the order instituting proceeding.

PrepaYd In Talks To Sell Bank Freedom

PrepaYd, Inc has announced that it is considering selling or merging Bank Freedom. PrepaYd has got unsolicited inquiries from qualified parties looking to buy versus build a prepaid debit card company. No letter of intent has been reached with any party regarding the deal till date. PrepaYd might actively look for other candidates if its current talks don't materialize into an agreement.


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