Source: American Express
American Express Incentive Services (AEIS), a prepaid card industry leader, today announced that it has entered into a licensing agreement with Ecount, experts in the prepaid market.
Ecount has licensed two AEIS patents (.S Patent Numbers 5,689,100 and 5,956,695) and will offer prepaid cards with AEIS' DirectSpend feature that directs cardholder spending to selected merchants.
Under the agreement, Ecount's use of the patented merchant acceptance process will also extend to its business partners. Ecount and its partners will sell the DirectSpend card products to clients and other businesses.
Unlike open-system prepaid cards that can be accepted by any merchant that is a participant in a card network, DirectSpend cards allow a prepaid card program sponsor to select individual merchants or a group of merchants to participate in the sponsor's card program. This customization feature allows businesses to create cards to fit a program theme or achieve a specific goal.
"Ecount is an experienced prepaid provider that understands the unique value of the DirectSpend process," said Sheree Herr, vice president of licensing at AEIS. "With DirectSpend, Ecount can continue to create innovative and diverse products tailored to specific client needs."
"We offer our clients and partners the broadest spectrum of features and functionalities available for prepaid programs, and now they have the option to select a program with specific participating merchants," stated Matt Gillin, CEO of Ecount. "With our focus on product customization, world class service and methodology, our clients are able to cost-effectively create comprehensive, fully customized programs to drive the best results for their needs."