Prepayd Inc. is in the process of moving its new headquarters and convention marketing division to Henderson, as the prepaid debit card and wireless phone service company moves from Newport Beach, Calif., to Nevada, a company executive said Friday.
"The Henderson office with its close proximity to Las Vegas is a real win-win for us," Bruce Berman, CEO of Prepayd, said in a statement. "The high unemployment rate in Nevada, lower cost of living and no state income tax versus California’s cost of living and taxes will make it easier and less expensive to expand."
Prepayd Wireless Inc. is a prepaid wireless phone company.
Berman said Friday he will begin marketing a new product line called Everything Prepayd, which includes company products for wireless, payroll, and business expense cards to new clients at conventions in Las Vegas.
Berman said his goal with Everything Prepayd was to "get it open as quickly as possible."
Prepayd, formerly Prepaid Card Holdings Inc., operates three subsidiaries. The company currently employs 30 people in Southern California. Berman said at least seven would transfer to Henderson, with the company hiring additional staff locally. He said he expects to have Prepayd fully staffed by September.
Bank Freedom is a company that offers reloadable prepaid Visa and MasterCard products. Bank Freedom Business Solutions works with businesses to pay their unbanked or underbanked employees and to manage employees’ company- related expenses.
Berman said the company is considering selling Prepayd Wireless franchises and establishing shops and kiosks at retail locations in Southern Nevada.
Berman declined to discuss future plans for Prepayd Wireless in Nevada.