Sun-Sentinel: Sunrise firm becomes player in prepaid cash cards

Christine Winter profiles WildCard Systems.

WildCard, founded in 1997 by Gary Palmer and partner Larry Park started as a company that provided “catastrophic cards” for insurance firms. The privately held company, which has grown to 200 employees, is backed by institutional investors, such as Sutter Hill Ventures, Greenwich Street Partners and Bank of America, which also uses Wildcards services for all its prepaid card products.

Palmer said the company turned profitable in the later months of 2002, but will not be profitable for the year, though he is projecting that in 2003 the company will be in the black for the full year.

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