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Discover Partners with More Credit Card Issuers to Grow Network

by Peter Andrew

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.

Published 06/13/06 (Modified 05/07/12)


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