Inficorp Holdings Inc. has opened a limited-purpose credit card bank to support its clients' activities.
The company manages card programs for banks and other companies that want to outsource their operations. Infistar, a consulting subsidiary, was formerly known as Card Issuer Program Management Corp. Infibank, the issuing unit, is chartered in Georgia.
"With the bank, we can provide our clients with additional resources that they may not have themselves," said Jerry D. Craft, president and chief executive officer of Inficorp.
William Farr 3d, president and chief executive officer of the bank, said, "Using our clients' brand identities and leveraging their relationship bases, Infibank will develop Visa and MasterCard accounts and make credit card loans."