Businesses Can Now Offer Customers Broadest Payment Choice
RIVERWOODS, Ill. & DALLAS--(BUSINESS WIRE)--Sept. 20,
2007--Discover Financial Services (NYSE:DFS) and Chase Paymentech
today announced the integration of Discover Network card acceptance
into Chase Paymentech's payments network for small- to mid-sized
merchants. Chase Paymentech is the world's largest merchant acquirer,
with a customer base of more than 600,000 merchants in almost 1
million locations.
By adding Discover Network card acceptance as part of an
integrated payments package, these merchants will now have an easy,
cost-effective, all-in-one payment processing solution with the
convenience of single-source statements, settlement, and customer
service.
Consumers continue to show an increasing preference for non-cash
payments, regardless of transaction size and one-third of consumer
purchases in the United States are now card-based, with that trend
growing every year. Most research indicates merchant acceptance as a
key driving element of whether a particular card brand gets primary or
secondary wallet share. This agreement helps Discover Network
cardholders use their card of choice when shopping at a full range of
merchant locations.
"Our relationship with Chase Paymentech represents another
tremendous milestone in our strategy to further expand acceptance of
Discover Network cards among small- to mid-sized merchants across all
industries," said Harit Talwar, executive vice president of Discover
Financial Services. "Chase Paymentech's reach into an extensive
customer base further demonstrates our commitment to delivering the
integrated processing packages that merchants want."
"The ability to offer merchants a consolidated processing solution
that includes Discover Network card acceptance, coupled with Chase
Paymentech's exceptional merchant services, is a powerful and
attractive combination for the small and mid-sized merchant," said
Diane Donoghue, executive vice president, general manager, retail
network services for Chase Paymentech. "Not only do merchants benefit
from expanded payment options for their customers, but they also
receive an inclusive payment solution from a company they know and
trust."
Chase Paymentech has already integrated Discover Network into the
merchant boarding process as the first step towards full integration,
and expects to rollout the full processing package to its existing
merchant customers starting in early 2008.
About Discover Financial Services
Discover Financial Services (NYSE:DFS) operates the Discover Card
with more than 50 million cardmembers, the Discover Network with
millions of merchant and cash access locations, and the Goldfish
credit card business in the United Kingdom. Discover Financial
Services also operates the PULSE ATM/debit network, which serves more
than 4,400 financial institutions and includes nearly 260,000 ATMs, as
well as POS terminals, nationwide. For more information, visit
www.discoverfinancial.com.
About Chase Paymentech Solutions, LLC
Chase Paymentech Solutions, LLC is a leading global payments firm
and the world's largest merchant acquirer. In 2006, the privately-held
company processed approximately 18.2 billion payment transactions,
with more than $660.6 billion in annual bankcard and debit volume.
Chase Paymentech's customer base reflects the most respected brands in
the world, including 75 percent of the leading ecommerce businesses
and more than 600,000 merchants in nearly 1 million locations
worldwide. Chase Paymentech is a joint venture between JPMorgan Chase
& Co. and First Data Corp. Learn more at www.chasepaymentech.com.
CONTACT: Discover Financial Services
Leslie Beyer, 224-405-5154
[email protected]
or
Chase Paymentech
Barbara Friedkin, 917-206-3575
[email protected]
SOURCE: Discover Financial Services