Under the terms of the deal, InteliSpend is expected to issue and manage prepaid cards on the Discover network. The agreement extends the companies’ existing relationship, under the terms of which Discover has been allowed to hold a license for InteliSpends patented DirectSpend RAN (restricted authorization network) process.
Thus, the combination of the agreements is expected to provide for the issuance of point-based, commissionable RAN prepaid cards across the Discover network.
In recent news, Discover has entered an agreement with US financial services technology company Fiserv to offer e-invoicing services via the latter’s bill payment network.
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