RIVERWOODS, Ill.--(BUSINESS WIRE)--
Discover Global Network, the third largest payments network in the world1
and part of Discover Financial Services, has entered into an agreement
with Desjardins Group, the leading cooperative financial group in Canada
through its Monetico payment solutions, to expand acceptance in Canada.
Merchants that have business relationships with Desjardins are now able
to accept cards that run on the Discover Global Network, including
Discover, Diners Club and alliance partner cards.
“As one of the top countries that Discover cardmembers travel to and a
popular global travel destination, expanding the Discover Global Network
footprint in Canada has been and continues to be a major priority,” said
Ricardo Leite, vice president, Discover Global Network. “Working with
Desjardins will provide a significant boost to our merchant acceptance
throughout Canada, especially in the province of Quebec.”
“Desjardins is very pleased with the launch of this offer, which
demonstrates once again how we respond to the current needs of both the
market and our clients—from local entrepreneurs to major
corporations—giving them the opportunity to multiply their business
opportunities,” said Patrice Dagenais, vice president of payment
services and business partnerships, Desjardins Group. “We’re committed
to simplifying and facilitating the client experience.”
As a popular travel destination, Canada welcomes nearly 14 million
visitors from the U.S. annually2 and that number is expected
to increase by more than 20 percent by the year 20203. In an
effort to provide more payment options and a more seamless payment
experience for cardholders, Discover Global Network has expanded
considerably within Canada in recent years. From 2015 to 2016,
transactions on the Discover Global Network increased by more than 20
percent in Canada4. Furthermore, the majority of merchants in
Canada now accept Discover5.
About Discover Global Network
Discover Global Network, the global payments brand of Discover Financial
Services, processes millions of cardholder transactions each day. With
industry expertise, innovative technology and a closed-loop
infrastructure, Discover Global Network provides effective, customized
solutions that evolve as needs change. Discover Global Network has
alliances with more than 10 payments networks around the world, and is
led by three Discover businesses: Discover network, with millions of
retail 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.discovernetwork.com.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada
and the sixth largest cooperative financial group in the world, with
assets close to $260 billion. It has been rated one of the Best
Employers in Canada by Aon Hewitt. To meet the diverse needs of its
members and clients, Desjardins offers a full range of products and
services to individuals and businesses through its extensive
distribution network, online platforms and subsidiaries across Canada.
Counted among the world's strongest banks according to The Banker magazine,
Desjardins has one of the highest capital ratios and credit ratings in
the industry.
About Monetico
Monetico is the result of a partnership by two major institutions,
Desjardins Group in Canada and Crédit Mutuel in France, with shared
cooperative and mutualist values. Their goal is to prioritize the
interests of merchants by creating a range of solutions geared to both
local entrepreneurs and large-scale, international businesses. To learn
more, visit www.monetico.com.
1 By merchant locations, Global Payment Cards Data and
Forecasts to 2020 – Regional Comparisons, Retail Banking and Research
(RBR), July 2015
2 Canada Tourism, https://us-keepexploring.canada.travel
3 Euromonitor International, Flows in Canada 2015
4 Based on 2015-2016 internal data
5 Based on internal franchise/acquirer reporting as of
December 2016. Subject to change.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170524005899/en/
Source: Discover Financial Services