BadgePass, Inc. has acquired the business and assets of Boomerang Payment Solutions, LLC, as part of a deal that will bring new financial aid disbursement capabilities to the BadgePass portfolio.

Boomerang Payment Solutions’ primary product offering, Veita, enables institutions to make excess financial aid disbursements on a debit MasterCard which can also serve as the student's campus ID card.

Campuses using BadgePass's TotalCard one card system can now benefit from the acquisition by reducing disbursement time and expenses, while granting students the freedom and flexibility of MasterCard purchasing -- in addition to TotalCard platform's other features including access control, meal plan management and ID validation.

“We are looking forward to working with existing customers using the Veita system and bringing them the full suite of features that TotalCard has to offer,” says Lindsay Martin-Nez, vice president of sales and marketing for BadgePass. “We know that many of our current and future customers will be excited to explore the option of integrated financial aid disbursement!”

The details of the transaction have been kept confidential.