Contracts with First 50 Merchant Acquirers Set Stage for
Widespread Acceptance by Year’s End
NEW ORLEANS--(BUSINESS WIRE)--Apr. 30, 2013--
ETA –Discover today announced it has signed contracts with 50
merchant acquirers that will extend PayPal’s in-store acceptance to more
than 2 million merchant outlets by the end of 2013.
The milestone comes eight months after PayPal announced its intent to
create an innovative payment option that leverages Discover’s payments
infrastructure to provide PayPal’s 55+ million active domestic account
holders access to millions of retail stores, restaurants, gas pumps and
more.
“With the signing of 50 merchant acquirers to date, we are well on our
way toward helping PayPal reach its goals of acceptance at millions of
physical locations in the U.S.,” said Diane Offereins, president of
payment services at Discover. “Our relationship represents the unique
abilities we have to leverage our payments assets and infrastructure to
work with emerging payments leaders like PayPal, and we’re proud of the
progress we’ve made in such a short time.”
“With Discover’s help we are poised to grow from the 250,000 retailers
who accept PayPal in store today to more than 2 million by the end of
2013,” said Don Kingsborough, vice president of retail services at
PayPal. “As consumers continue to use technology to shop in new and
exciting ways, we will continue to collaborate with Discover’s acquirer
partners to support the growing needs of their merchants.”
Some of the largest merchant acquirers and processors have already
committed to offering PayPal, including Vantiv, WorldPay, Global
Payments, First American Payments, Heartland Payment Systems and TSYS.
Other leading acquirers and processors continue to join on a regular
basis.
“We are proud to have given our business owners the opportunity to be
the first merchants nationwide to let consumers use PayPal in stores,”
said Tony Catalfano, President and CEO of WorldPay U.S. “With the
expanded acceptance options, our merchants are able to offer more
payment choices for their customers, create better opportunities for
engaging customers, help increase sales, and solve problems to make
their customers’ experience better.”
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
home loans, private student loans, personal loans, online savings
accounts, certificates of deposit and money market accounts through its
direct banking business. 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 www.discoverfinancial.com.
Source: Discover Financial Services
Media Contact:
Discover Financial Services
Laura Gingiss
224-405-0185
lauragingiss@discover.com