Discover Partners with More Credit Card Issuers to Grow Network
Discover
Partners with More Credit Card Issuers to Grow Network
Discover Financial Services announced agreements with five more
financiual institutions in its ongoing effort to expand its
credit card processing network. They include Alliance Data,
First Bank & Trust (Brookings, South Dakota), Morgan Beaumont
Inc., West Suburban Bancorp Inc. (Lombard, Illinois) and Palm
Desert National Bank (Palm Desert, California).
The
Discover Network is Discover Financial Services’ credit card
processing network, which competes on the same level as the
processing networks of Visa, MasterCard and American Express.
Court rulings over the last two years have made it possible
for Discover to partner with other financial institutions to
offer Discover-branded cards, where in the past Discover could
only issue cards directly to consumers.
Discover
has previously announced similar relationship with card issuers
including HSBC Bank Nevada, N.A., affiliates of GE Consumer
Finance, and CompuCredit Corp.
