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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.

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