Client News

Capital Prepaid Services Appoints Michael Olafson to President

SIOUX FALLS, South Dakota, February 20, 2018– Capital Prepaid Services (Capital), a provider of BIN sponsorship for prepaid card programs, announced the appointment of Mike Olafson to President. Olafson previously served as Vice President at Capital.

“Mike’s commercial banking experience coupled with his prepaid knowledge has prepared him well to lead our BIN sponsorship approach in prepaid,” said Charles Hendrickson, Chairman of Capital Prepaid Services.

Prior to joining Capital in 2014, Olafson held numerous leadership roles in community banking at Wells Fargo in the Dakotas. He received his MBA from National American University and his BA from Northern State University.

About CAPITAL Prepaid Services
Capital Prepaid Services provides BIN sponsorship for prepaid card programs, from reloadable, general purpose cards to prepaid cards for government, insurance, and corporate users.  Partnering with Capital Prepaid Serves gives prepaid service providers access to a full roster of services that includes settlement; reconciliation of funds and income accounts; and a compliant connection to Mastercard and Visa, along with any assistance needed to ensure ongoing regulatory compliance. Capital was established in 2011 and is headquartered in Sioux Falls, South Dakota. For more information about Capital, call 605.782.3300 or visit