Agreement for Custom Pre-Paid Stored Value Debit Card
Category: Credit Card
AGREEMENT FOR CUSTOM PRE-PAID STORED VALUE DEBIT CARD This Agreement is made this 21st day of February, 2005 by and between Super A Foods, Inc. (the “Merchant”) on the one hand, and Direct Card Services, LLC (hereinafter “DCS”), and Del Rey Financial (hereinafter “DRF”) on the other hand. Merchant desires a custom pre-paid stored value debit card co-branded with MasterCard and usable in the MasterCard network. DCS provides custom pre-paid stored value debit card programs of this type. DCS has agreed to provide Merchant with a pre-paid debit card MasterCard program and card service. Accordingly, the parties agree as follows. 1. NATURE OF STORED VALUE PROGRAM: DCS will create and provide an approved stored value debit card program (“SVP”) for Merchant. The program will have as the issuing bank First Premier Bank and its processor will be Optimum Pay USA, Inc. The SVP will be a custom program for Merchant showing the MasterCard logo on the face thereof. The SVP will be a MasterCard or in lieu thereof a Maestro Card. Merchant understands that the SVP must be approved by MasterCard and the issuing bank. DRF shall assist in the creation of the SVP for marketing purposes.
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