RIVERWOODS, Ill. – Discover Financial Services, in the process of being spun off by Morgan Stanley, announced yesterday it has contracted with First Data Corp. to issue an administer its new branded payroll cards. The Discover-branded payroll cards will be aimed at the underbanked market and will provide them with prepaid debit use, check writing capabilities, access to a large network of ATMs, direct deposit and money transfers to Mexico and Latin America. Discover Financial is the parent of PULSE EFT, a network for more than 4,0000 credit unions and banks.
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