NuVision Networks, a leading provider of campus card solutions, has entered into a strategic alliance with The Discover Network, Sutton Bank and Metavante.
NuVision Networks will leverage their industry-leading technologies and product lines with the power of the Discover Card Network, which connects to millions of merchants and cash access locations worldwide. This agreement, beginning September 2008, sets the stage for NuVision Networks to become the only provider of Discover debit cards (embedded within student body ID cards) at participating colleges and universities.
This alliance provides great benefits to students as their ID cards can act as a "Good Funds" debit card, which is a card that will not affect credit reporting status, will not incur fees, and can never be overdrawn. Good Funds debit cards provide the ultimate protection to students and are the most responsible choice for institutions. Perhaps the greatest benefit will be ID cards that are received anywhere in the world that the Discover Network Card is accepted.
This alliance benefits institutions as it will help them streamline their refunds process, which in most cases is costly and onerous. With NuVision Networks, institutions can electronically issue refunds onto student ID cards instantly and automatically. This provides a great benefit to students, as their refunds are available in real-time, no matter how large or small. Automating this process takes refunds off the books and eliminates the need to track down and reissue un-cashed checks or forward unclaimed monies.
Best of all, this program will enhance student life by making the on- and off-campus experience easy and convenient. Not only will their campus ID cards act as "Good Funds" debit cards, they can also get cash back, access balances online, as well as receive low balance alerts automatically. They can monitor their account deposits; whether from student payroll or parents, as well as their expenditures online and in real-time, all without the need of bank or credit accounts.
For every deposit made by the institution; for refunds or student payroll, the student will have access to one withdrawal at any ATM without charge. The college or university can control how the card may be used. They can place restrictions on the card, excluding things like online gambling or taverns.
The alliance between NuVision Networks Corp. and Discover Financial Services clearly demonstrates the power and versatility of their products, as well as their unprecedented year-over-year gain in market share. "We believe our industry to be very young and for the most part untapped. This is very exciting not only because of its potential for explosive growth, but because we have a hand in shaping the industry. I believe our products, attractive pricing models, and core values excite our customers in very fundamental ways and with the added value of partnering with Discover, we have the best product lines in the industry," says Chief Engineer, Bob Roth of NuVision Networks Corp.
The synergies created in this alliance offer strategic advantages by exposing consumers to the premier products of both companies, while establishing opportunities for brand loyalty, brand recognition and future returns. Going forward, the companies plan to work together to strengthen channels, develop greater product lines, and to secure significant market share.