Discover Financial Services Partners With Wildcard Systems To Provide A Variety Of Card Solutions
August 7, 2003
RIVERWOODS, Ill., August 7, 2003…Discover Financial
Services, a business unit of Morgan Stanley (NYSE:MWD),
today announced that it has partnered with WildCard
Systems, a Florida-based prepaid technology company,
to provide services for issuers to utilize the
Discover/NOVUS Network. This partnership enables
issuers to distribute prepaid card products by
utilizing the Discover/NOVUS Network.
Some of the benefits of the partnership between
Discover Financial Services and WildCard Systems
are as follows:
· Targeted authorization
· Multiple-purse capabilities
· Integrated
web services
· Logo flexibility
·Distribution
and redemption of various card types
·More
than 4 million merchant and cash access locations
·Real-time authorization and zero floor
limit which limits fraud potential
·Complete
turnkey service
“For the past few years,
Discover Card merchants and WildCard's clients
have been asking for a flexible and scalable solution
for their stored value and other card payment
needs,” said Tom Dailey, senior vice president,
Discover Financial Services. “The partnership
brings many synergies and solutions to both Discover
Card merchants as well as WildCard's clients and
allows businesses to enhance their current practices
with stored value/gift cards with an eye toward
the future,” added Dailey.
“Our partnership
with Discover makes it possible for clients to
capitalize on our unique processing services and
respond to opportunities for prepaid cards that
require branding flexibility, creative methods
of distribution, as well as targeted acceptance
for gift, rebate, coupon, promotion and insurance
cards. Collaborating with Discover/NOVUS Network
represents a strategic opportunity for WildCard
to continue developing and deploying innovative
electronic payment solutions,” said Gary Palmer,
Chief Operating Officer, WildCard Systems.
About WildCard Systems
WildCard Systems
is the global solutions leader in turnkey host
based prepaid cards and custom stored-value products.
These products serve a wide range of vertical
markets in both consumer and commercial applications
and are made available to end users through banks
and commercial clients in the U.S. and internationally.
WildCard has developed a secure technology and
services platform that are configured and managed
for its clients' success. Founded in 1997, WildCard
Systems is a privately held, venture capital backed
company. The company is headquartered in Sunrise,
Fla. with domestic and international facilities
in Silicon Valley, Orlando and Singapore. For
more information, visit www.wildcardsystems.com.
About Discover Financial Services,
Inc.
Discover Financial Services, a business
unit of Morgan Stanley, operates the Discover
Card brands and the Discover/NOVUS Network for
its more than 50 million Cardmembers. The Discover/NOVUS
Network is the largest proprietary credit card
network in the United States with more than 4
million merchant and cash access locations. For
more information see www.discoverbiz.com.