Your sodium bisulfate is displacing the potassium leaving you with a hydrogen iodide solution then when you add the H2O2 the hydrogen iodide is oxidized leaving you with elemental iodine. There is actually a series of reaction intermediates between the hydrogen iodide and the final Iodine formation involving the formation of hydrogen triiodide
NaHSO4 + KI------> NaKSO4 + HI
2HI + H2O2 --------> I2 + 2H2O
I2+ HI-------> HI-I-I
2HI3 + H2O2 --------->3H2O + 2I2
I believe thats all the reactions taking place in an ideal system.