About Us

A History in Card Services

Established in 2011, Capital Prepaid Services is a privately held company based in Sioux Falls, South Dakota.   It is a sister company to Capital Services, an innovative card asset portfolio management and servicing company. Capital Prepaid Services has partnered with First American State Bank in South Dakota to provide sponsorship for a multitude of unique prepaid card programs, from reloadable, general purpose reloadable (GPR), government, and insurance cards to corporate cards, including incentive, reward, and payroll. But no matter the type of program, the firm follows the same unique, innovative consultative approach to providing low-cost, high-value BIN sponsorships to prepaid program managers.  Utilizing a collaborative issuance, conversion, and onboarding process reduces time to market—even for the most complex of programs.


Our Leaders

Industry Veterans

Charles Hendrickson, Chairman

Michelle Mueller, Chief Operating Officer and Chief Financial Officer

Michael Olafson, President

Contact Us

Physical Address
500 E. 60th Street North
Sioux Falls, SD 57104

General Inquiries
michael.olafson@capitalsvcs.com
605.782.3349