Discover Card bundling processing with Visa and MasterCard
Posted on Friday, December 14, 2007
Discover has started the process of bundling their credit card processing with Visa and MasterCard. This means that merchant account providers will soon be offering merchants a single daily deposit for Visa, MasterCard, and Discover, a consolidated monthly statement and one phone number for customer service.
If merchants accept American Express they will still receive a separate deposit and monthly statement for related sales. This change should help simplify things for both providers and merchants. Discover has been around for 22 years and currently has roughly 4 million merchants in the U.S. Visa and MasterCard have about 35% more merchants. T
his move is to try and close that gap. In the near future, merchants will be automatically signed up to accept Discover. Discover Card is also beefing up efforts with it's offerings to consumers to try and increase the number of cardholders. After all, if they lock up the supply side but can't improve the demand side, nothing has been gained.
