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FiCentive Inc. Signs Prepaid Card Program Agreement with Discover Financial Services

FiCentive (OTCBB: PYDS), a turn-key prepaid card and gift card solutions provider, announced today that it has signed an agreement with Discover Financial Services (NYSE: DFS), 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

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 or email

FiCentive is a wholly owned subsidiary of Payment Data Systems, Inc.

For additional information, visit Contact Michael Long for Investor Relations information at 210-249-4040 or email at


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 law.

Payment Data Systems, Inc., San Antonio
Michael Long, 210-249-4040