News
Discover inks processing deals with Wells Fargo, Chase
September 24, 2007
RIVERWOODS, Ill. - Discover Financial Services has inked full-service Discover-card transaction processing deals with two of the nation's leading banks, Wells Fargo and Chase. Wells Fargo Merchant Services LLC and Chase Paymentech have agreed to offer full-service processing for all Discover transactions through their networks.
"This agreement with Discover Financial provides us with another way we can help expand our merchants' payment acceptance options and, ultimately, help them better serve their customers' payment needs," said Debra Rossi, executive vice president of Wells Fargo Merchant Services, in a news release.
With full processing of Discover card transactions, merchants can offer additional payment options for their customers. Wells Fargo customers also will be able to take advantage of simplified pricing, while receiving one monthly merchant reconciliation statement and access to integrated customer service.
For customers of Chase Paymentech, which servies more than 600,000 small- to mid-sized merchants, the benefits are the same, offering Chase merchants an all-in-one payment processing solution.
"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 and general manager of 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."
Banking Executive SummaryTransaction ProcessingEFT NetworksDebit / CreditOtherNorth AmericaPublic CompaniesBank / Credit Union
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