The field of prepaid cards entering the market continues to expand as InteliSpend Prepaid Solutions(TM) recently announced plans to deliver three new prepaid products at the end of November, 2011. InteliSpend is no stranger to the prepaid market as they are not only an issuer of American Express and Discover network brands, but also a program manager for Visa and MasterCard prepaid products. According to a November 14th press release, the company is focusing on the uniqueness of the Discover network to develop proprietary, private label prepaid cards emphasizing client branding and venues where each card can actually be used.
Darryl Hutson, CEO of InteliSpend:
“The addition of these three new Discover products marks completion of a key mission – to bring together all four major networks in one place. We’re proud to be that place, and excited about the broad options we have for our clients. Discover is a major financial network with a long track record of success, and launching new cards with them strengthens our market position as a prepaid provider specializing in solutions for complex business needs.”
The three new prepaid debit cards launching later this month include:
- The MAX Discover Prepaid Card – by utilizing the DirectSpend(R), patented Restricted Authorization Network (RAN) feature, this card will offer redemption at a pre-built set of merchants including over 200 specialty electronics, apparel, jewelry, home furnishings and travel retailers.
- The Preferences(R) Discover Prepaid Card – this product will give businesses the freedom to build their own unique merchant set, based on each program’s purpose and strategy.
- The Universal Discover Prepaid Card – anywhere Discover is welcome in the U.S. will be the marketing avenue for this offering.
InteliSpend has been developing prepaid product patents for some time and upon review of their website, it is apparent they are committed to the value-added side of the equation by offering unique branding, sales and incentive propositions for their customers.