# FSV Payment Systems

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fsv-payment-systems

- Industry: Software
- Headquarters: Jacksonville, US
- Website: www.fsvps.com
- Total disclosed funding: $10M
- Latest round: Series A (Oct 1, 2004)
- Investors on record: 1

## About

FSV Payment Systems provides tailored prepaid financial solutions for businesses, enhancing efficiency through its payroll card offerings and expense management programs, specifically designed to optimize prepaid transactions across various sectors.Founded in 1999 in Jacksonville, US, FSV Payment Systems specializes in prepaid financial solutions. In November 2012, US Bank acquired FSV Payment Systems for undisclosed financial terms. The company has completed a total of 7 deals and raised USD 6.00 mn through its latest funding round involving investors Ballast Point Ventures and North Hill Ventures.FSV Payment Systems specializes in offering a variety of prepaid financial solutions aimed at businesses, employers, and cardholders. Their core product, the PaychekPLUS! Payroll Card, streamlines payroll fund distribution, enhancing cost savings and productivity. Additionally, FSV provides prepaid cards for rebate, rewards, and expense management, designed for seamless integration with payroll systems, serving clients across multiple sectors mainly in North America.FSV Payment Systems generates revenue through transaction-based models that support the usage of their prepaid cards. Their financial structure includes partnerships with employers incorporating the PaychekPLUS! Payroll Card into their payroll systems, which may involve transaction fees and service charges. The company also engages in B2B transactions with financial institutions, broadening their market reach and ensuring value for both employers and end-users.The company is expected to leverage the recent funding of USD 6.00 mn to enhance its product offerings and expand into new markets. Specifically, FSV Payment Systems plans to develop additional prepaid card solutions and increase its footprint in North America, aiming for significant market penetration by 2023. The acquisition by US Bank in November 2012 may also support strategic growth initiatives.

## Funding rounds

- Series A, Oct 1, 2004, $10M — Berkeley VC International

## Investors

- Berkeley VC International (https://capitalatlas.ai/funds/berkeley-vc-international) — Series A