PAYMENT DATA SYSTEMS INC
PAYMENT DATA SYSTEMS INC ("PYDS-L")
DISCOVER FINANCIAL SERVICES ("DFS-N")
- FiCentive Signs Prepaid Card Program Agreement with Discover
FiCentive, a turn-key prepaid card and gift card solutions provider,
announced today that it has signed an agreement with Discover Financial
Services, a leading credit card issuer and electronic payment services
company, that allows for the creation and management of specific Discover
Network prepaid and gift card programs.
Under the agreement, FiCentive will work with Discover Network, a
business unit of Discover Financial Services, to develop general spend
reloadable prepaid products that will run on the Discover Network in
addition to providing all program management services.
Louis Hoch, CEO of FiCentive, stated, "We are excited to work with DFS,
a leader in the electronic payment industry, to expand our penetration of
the prepaid card market. We anticipate creating and marketing many new and
exciting card programs with Discover Network which will present new payment
solutions to our growing customer base. We anticipate launching our first
Discover Network card program in early 2009."
In addition to offering a suite of full-service prepaid debit card
solutions, FiCentive also can now offer merchants, financial intuitions and
cardholders the distinct benefits of Discover Network including:
Zero floor-limits and real-time authorizations for all transactions,
which will help prevent overdraft situations;
Real-time remaining card balance displayed in the authorization on
most retail POS receipts, which provides a convenient money management
tool;
Selective authorization for customized incentive programs, which
allows Payment Data Systems to create and manage innovative and
specialized card programs;
Fee-free "Cash Over"
the amount of purchase at convenient, everyday-spend destination
sites; and
Industry-leading fraud prevention and mitigation procedures.
"Our agreement with FiCentive further extends our reach into the
expanding prepaid marketplace," said Tom Crowder, general manager of
network prepaid strategic development for Discover Financial Services. "We
are pleased to have them as one of our prepaid partners and look forward to
working with them to develop new and innovative prepaid programs."
About Discover Financial Services
Discover Financial Services (NYSE: DFS) is a leading credit card issuer
and electronic payment services company with one of the most recognized
brands in U.S. financial services. The company operates the Discover Card,
America's cash rewards pioneer. Since its inception in 1986, the company
has become one of the largest card issuers in the United States. Its
payments business consists of the 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 185 countries and territories. For more information,
visit
www.discoverfinancial.com
.
About FiCentive, Inc.
FiCentive, Inc. is a turn-key prepaid card solutions provider that
quickly and securely delivers customized prepaid card programs for
corporations, financial institutions, affinity groups or any organization
that needs to deliver a financial incentive to their customers, vendors, or
employees. FiCentive is well positioned to capture its share of the global
prepaid market that is estimated to be more than 6.5 trillion dollars.
For more information about FiCentive, please visit
www.ficentive.com
or
email
info@ficentive.com
FiCentive is a wholly owned subsidiary of Payment Data Systems, Inc.
For additional information, visit
www.paymentdata.com
. Contact Michael
Long for Investor Relations information at 210-249-4040 or email at
ir@paymentdata.com
.
FORWARD-LOOKING STATEMENTS DISCLAIMER
This document contains forward-looking statements that involve risks
and uncertainties. You should not place undue reliance on these
forward-looking statements. Our actual results could differ materially from
those anticipated in the forward-looking statements for many reasons,
including the risks described in our annual report on Form 10-K and other
reports we file with the Securities and Exchange Commission. Although we
believe the expectations reflected in the forward-looking statements are
reasonable, they relate only to events as of the date on which the
statements are made. We do not intend to update any of the forward-looking
statements after the date of this report to conform these statements to
actual results or to changes in our expectations, except as required by
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