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Discover® And Intelispend Prepaid Solutionstm Announce Prepaid Issuing Agreement

March 07, 2011

RIVERWOODS, Ill. & ST. LOUIS, Mar 07, 2011 (BUSINESS WIRE) -- 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."

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.

About InteliSpend Prepaid Solutions

InteliSpend Prepaid Solutions, LLC, an independent entity within Maritz Holdings, Inc., is an issuer and reseller of American Express- and Discover-branded prepaid products, and a program manager for MasterCard and Visa. InteliSpend provides businesses with prepaid solutions, including stored-value cards, online reward management technology, and program management. Its products address a broad array of applications, such as employee reward and recognition, sales incentives, expense management, and consumer promotions. InteliSpend is headquartered in Fenton, Mo., and is a licensee of U.S. Patents 5,689,100 and 5,956,695 and Canadian Patent 2,215,969.

* DirectSpend is protected by U.S. Patents 5,689,100 and 5,956,695 and Canada Patent 2,215,969.

SOURCE: Discover Financial Services

Discover
Mai Lee Ua, 224-405-3082
maileeua@discover.com
or
InteliSpend Prepaid Solutions
Nikki Washington, 636-226-2269
Nikki.Washington@intelispend.com