September 13, 2010

Discover Announces Provider Agreement To Offer Cardmembers Squaretrade Warranties

Agreement gives Discover cardmembers unique service, value and choice that typical warranty programs don't deliver

RIVERWOODS, Ill., Sep 13, 2010 (BUSINESS WIRE) -- Discover today announced a provider agreement with SquareTrade, a leading consumer-focused warranty provider. The agreement allows Discover to offer its cardmembers SquareTrade's unique service warranty to protect electronics and appliances wherever they shop in the U.S. with their Discover card.

The agreement offers Discover cardmembers a warranty service that they can research and purchase directly from Discover's website. SquareTrade is known for transforming the warranty industry with fair prices, a no-hassle, five-day service guarantee and online warranty management tools unmatched in the service industry.

"Discover's commitment to providing cardmembers with the best service, value and rewards is consistent with SquareTrade's strong track record of great customer service and affordable prices," said Karin Giffney, Vice President of Products and Benefits at Discover. "We believe our cardmembers will appreciate this provider agreement as one of the instant, relevant benefits that Discover card offers, and will value the tremendous savings that can be achieved by working directly with SquareTrade."

"SquareTrade offers the first warranty service built completely around the consumer, focused on fair pricing and ease of use," said SquareTrade CEO, Steve Abernethy. "Discover cardmembers will now have access to the multitude of benefits SquareTrade provides and can cost effectively extend the useful life of their consumer electronics and appliances."

Discover cardmembers will generally have up to 90 days to purchase a SquareTrade warranty online after purchasing electronics or appliances from any merchant in the United States, either online or in store, depending on the level of coverage they select. SquareTrade provides a low price guarantee and has earned the Nextag 5-Star seller designation.

For more information about the partnership between Discover and SquareTrade, click here.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and 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 personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment 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 more than 185 countries and territories. For more information, visit

About SquareTrade

Founded in 1999, SquareTrade makes warranties that make sense, offering fair prices, no-pressure sales, and no-hassle 5-day service. It offers consumers an alternative to overpriced and under-serviced warranties sold elsewhere. Thousands of 5-star consumer reviews reflect SquareTrade's superior warranty experience. SquareTrade is the largest independent warranty provider for consumer electronics and appliances and maintains a price point that is up to 70% less than other warranties. Privately held, SquareTrade is headquartered in San Francisco. For more information, go to

SOURCE: Discover Financial Services

Media Contact:
Laura Gingiss
Tel: (224) 405-0185
Horn Group For SquareTrade
Dan Wire
Tel: (415) 685-3132