Discover® network and InteliSpend Prepaid Solutions today announced an agreement that allows for InteliSpend to issue and program manage prepaid cards on the Discover network. The deal enhances Discover's ability to offer its partners prepaid cards designed specifically to meet unique business-to-business incentive needs.
The agreement expands on the recent announcement between the companies that allows Discover to hold a license for InteliSpend's patented DirectSpendSM RAN (restricted authorization network) process. The combination of the agreements provides for the issuance of point-based, commissionable RAN prepaid cards across the Discover network and sets the foundation for future program development for both companies' clients and merchant partners.
"These agreements enable us to bring increased value and customization to our customers in the prepaid space," said Farhan Ahmad, general manager of prepaid and director of emerging payments at Discover. "Discover network's flexibility and successful track record, along with InteliSpend's exceptional customer base, gives participants the most intelligent and customized solutions available."
InteliSpend will process, issue and fulfill orders, take on risk and provide client and customer service support for Discover clients.
"The expanding relationship with Discover network means additional capabilities that will allow us to give consumers a wider range of choice when selecting incentive solutions or purchasing prepaid cards at point-of-sale," said Darryl Hutson, InteliSpend chief executive officer. "We look forward to providing cards for both business-to-business and business-to-consumer channels that can be used at the millions of merchant locations utilizing the Discover network."