Elavon to Offer Pricing, Processing, Settlement and Support to
Merchants
RIVERWOODS, Ill.--(BUSINESS WIRE)--Sep. 28, 2009--
Diners Club International® Ltd., a business unit of Discover
(NYSE: DFS), and Elavon, a wholly-owned subsidiary of U.S. Bancorp
(NYSE: USB), today announced the signing of a merchant acquiring
agreement. Under the terms of the agreement, Elavon will add Diners Club
card acceptance to its portfolio of payment processing services. This
relationship will create more acceptance opportunities for Diners Club
and Discover cardmembers, who eventually will be able to use their cards
at Elavon merchants in the U.K. and western Europe.
Elavon will provide consolidated pricing, underwriting, risk management,
processing, settlement, support and reporting to its merchants,
simplifying payments processing by second quarter 2010. Merchants such
as restaurants, hotels, rail transport and specialty shops will receive
an easy, cost-effective, all-in-one payment processing solution with the
convenience of a single source for statements, settlement and customer
service.
“Our agreement with Elavon not only consolidates services to our
merchants, but also demonstrates Diners Club International’s commitment
towards rapidly expanding acceptance in the United Kingdom and western
Europe as we continue with our goal of expanding our global network”,
said Gerry Wagner, VP of International Acceptance for Diners Club
International. “As a leading global acquirer, Elavon helps us achieve
that goal.”
Elavon is the sixth largest acquirer in Europe, helping to broaden
Diners Club and Discover card acceptance among small- to mid-sized
merchants, while increasing volume on Diners Club and Discover’s
networks.
“Elavon excels at providing outstanding service to our merchants, and we
welcome the opportunity to add value to our product offering,” said
Stuart C. Harvey, Jr., CEO, Elavon. “The ability to offer Diners Club
card processing streamlines the merchant experience by eliminating the
complexities of dealing with multiple providers.”
About Diners Club International:
Diners Club International is owned by Discover Financial Services (NYSE:
DFS), a leading credit card issuer and electronic payment services
company. Established in 1950, Diners Club International became the first
multi-purpose charge card in the world, launching a financial revolution
in how consumers and companies pay for products and services. Today,
Diners Club is a globally recognized brand serving the payment needs of
select and affluent consumers as well as providing corporations and
small business owners with a complete array of expense management
solutions. With acceptance in more than 185 countries and territories,
millions of merchant locations and access to over 650,000 cash access
locations and ATMs, Diners Club is uniquely qualified to serve its
cardmembers all over the world. For more information, visit www.dinersclub.com.
About Elavon:
Elavon's Global Acquiring Solutions organization is a part of U.S.
Bancorp. Elavon provides end-to-end payment processing services to more
than one million merchants in the United States, Europe, Canada and
Puerto Rico. Solutions include credit and debit card processing,
electronic check services, gift cards, dynamic currency conversion,
multi-currency support, and cross-border acquiring. Elavon's services
are marketed through multiple alliance partner channels including
financial institutions, trade associations and ISOs. Elavon has
solutions to meet the needs of merchants in specialized markets
including small business, retail, hospitality/T&E, health care,
education and the public sector. Visit Elavon online at www.elavon.com.
About Discover Financial Services:
Discover Financial Services (NYSE: DFS) is a leading credit card issuer
and electronic payment services company with one of the most recognized
brands in U.S. financial services. Since its inception in 1986, the
company has become one of the largest card issuers in the United States.
The company operates the Discover card, America's cash rewards pioneer,
and offers student and personal loans, as well as savings products such
as certificates of deposit and money market accounts. Its payments
businesses consist of Discover Network, with millions of merchant and
cash access locations; PULSE, one of the nation's leading ATM/debit
networks; and Diners Club International, a global payments network with
acceptance in 185 countries and territories. For more information, visit www.discoverfinancial.com.
Source: Discover Financial Services
Diners Club International
Discover Financial Services
Mai Lee
Ua
(224) 405-3082
maileeua@discover.com