A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.

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January 18, 2023

On the wires

Discover® Global Network Launches Transit Solution Internationally

Businesswire

Discover® Global Network, the payments brand of Discover®, has launched Tap and Pay solutions with transit agencies and local acquiring partners such as EMT Madrid, Metro de Seville and GetNet in Spain, Mennica in Poland and New Taipei Metro in Taiwan. Riders may now use their Discover, Diners Club International® and network alliance partner cards to make contactless payments at these transit agencies in top international destinations.

October 28, 2022

On the wires

Discover Global Network Study Finds Open Banking Relevant to 78% of Fintechs

“The second annual research study by 451 Research, a part of S&P Global Market Intelligence, and commissioned by Discover® Global Network identifies emerging trends shaping the fintech ecosystem, including connected commerce, open banking, embedded finance and real-time payments. According to this year’s Fintech State of the Union, 78% of fintechs said that open banking technology is “relevant” to their business. This is likely because of the positive consumer sentiment that fintech institutions are experiencing with regard to open banking technology. In fact, the research from Discover and 451 revealed that 68% of consumers like open banking because it results in faster credit approvals. The study also revealed that over 6 in 10 fintechs (63%) show a strong interest in partnering with a payment network to develop open banking solutions.”

October 24, 2022

On the web

Discover Global Network Study Finds Open Banking Relevant to 78% of Fintechs

Businesswire

“The second annual research study by 451 Research, a part of S&P Global Market Intelligence, and commissioned by Discover® Global Network identifies emerging trends shaping the fintech ecosystem, including connected commerce, open banking, embedded finance and real-time payments. According to this year’s Fintech State of the Union, 78% of fintechs said that open banking technology is “relevant” to their business. This is likely because of the positive consumer sentiment that fintech institutions are experiencing with regard to open banking technology. In fact, the research from Discover and 451 revealed that 68% of consumers like open banking because it results in faster credit approvals. The study also revealed that over 6 in 10 fintechs (63%) show a strong interest in partnering with a payment network to develop open banking solutions.”

May 2, 2022

On the web

May 19, 2021

On the wires

Arab Financial Services and Discover Sign Network Alliance Agreement

“Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, and Discover, a digital banking and payments services company, have signed a strategic network alliance agreement that will increase the global acceptance footprint for both organizations. The agreement will initially give Discover, Diners Club International and network alliance cardholders the ability to use their card on AFS Android-based point-of-sale (POS) terminals across the Kingdom of Bahrain. All AFS POS terminals are enabled for contactless debit and credit card payments.”

March 23, 2021

On the wires

Discover Announces Alliance With Malaysia’s PayNet to Expand Worldwide Acceptance

“Discover, a leading digital bank and payments company, and Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for payment services in Malaysia, have signed an agreement that will greatly expand acceptance for Discover, Diners Club International and network alliance cardholders in Malaysia. The agreement complements Discover’s strategy of growing acceptance in Asia Pacific to support existing partners in countries such as Singapore, India, China and Japan by potentially opening acceptance at 10,000 ATM locations and more than 570,000 point-of-sale terminals throughout Malaysia.”

February 17, 2021

On the wires

Discover Recognized As The First Digital Bank To Meet Bank On’s Certification Standards

Cashback Debit , the online checking account from Discover, was recently certified by the national nonprofit organization, Cities for Financial Empowerment (CFE) Fund. The CFE Fund’s mission is to improve the financial stability of low and moderate income households by embedding financial empowerment strategies into local governments. The CFE Fund developed the Bank On National Account Standards, which support financial institutions’ efforts to connect consumers to secure and low-cost bank accounts. Discover is the first digital bank to meet the Bank On’s certification standards with the no fee1 Cashback Debit account.”

November 10, 2020

On the wires

areeba and Discover sign Network Alliance Agreement

“areeba and Discover signed a strategic agreement that increases the global acceptance footprint for both organizations. The agreement gives Discover, Diners Club International, PULSE and Network Alliance cardholders the ability to use their cards on the areeba network, which includes Point-of-Sale (POS) and e-commerce platforms across Lebanon.”

July 8, 2020

On the wires

Saudi Payments and Discover Sign Network Alliance Agreement

“Discover and Saudi Payments signed a strategic agreement that will increase the global acceptance footprint for both organizations. The agreement will give Discover, Diners Club International, PULSE and network alliance cardholders the ability to use their card on the mada network. This includes at Point-of-Sales (POS), on e-commerce platforms and at ATMs across the Kingdom. It also allows Saudi banks to issue cards that will be accepted on the Discover Global Network for international purchases and cash access outside of the Kingdom.”

April 24, 2020

On the web

Discover Card CEO Details Shocking Drop in Consumer Spending With Travel Category Down 99%

CNBC

“It’s clear that Americans have slowed their spending drastically as many industries essentially grind to a halt amid the coronavirus pandemic and job losses mount. But the head of credit card company Discover Financial Services offered an inside glimpse at just how grim the picture is right now. During an earnings conference call on Thursday, Discover CEO Roger Hochschild broke down cardholders’ spending patterns this month in different categories amid the coronavirus crisis.”

December 12, 2019

On the wires

Discover remains the most widely accepted card scheme worldwide

“New research from RBR shows that Discover remained the most widely accepted card scheme worldwide at the end of 2018. RBR’s Global Payment Cards Data and Forecasts to 2024 shows that Discover cards can be used at 55.9 million merchant outlets, 79% of the global total. Discover benefits from reciprocal network-to-network agreements with UnionPay, JCB and BC Card, providing acceptance for Discover at all outlets in China, Japan and South Korea – it is worth noting that if China is excluded, Discover is accepted at only 68% of the world’s outlets. These agreements also mean that UnionPay and JCB are second and third respectively in terms of acceptance, as they can be used at a large number of US outlets in addition to their home markets”

September 4, 2019

On the web

Discover and Verve Mark Launch of Verve Global Card With First Transaction Event

Payments Afrika

“Verve, a leading payments technology company and Interswitch’s card scheme in Africa, and Discover Global Network, the payments brand of Discover, held an event to launch the Verve Global Card. Cardholders will now have the ability to use their Verve Global Cards on the Discover Global Network which provides acceptance at millions of merchants globally. This will expand Verve’s existing suite of tailored payment products and solutions for its customers.”

June 10, 2019

On the web

Discover Enters Alliance With Bulgaria’s Borica AD on Payment Card Acceptance

Mobile Payments Today

“Borica AD, the owner of Bcard, the national payment system in Bulgaria, announced an agreement with Discover Financial Services to provide acceptance of the card outside of the country using Discover’s global payment network. Bcard will collaborate with the payment network to develop integration of Discover’s EMV contact, contactless and mobile solutions as well as D-PAS for international payment, according to a company release.”

June 5, 2019

On the wires

Geoswift to Expand Acceptance Globally for Discover Global Network

“Geoswift, a leading provider of cross-border payment solutions between China and the rest of the world, has partnered with Discover Global Network, the payments brand of Discover, allowing Geoswift’s merchants to accept more methods of payment than ever before. Geoswift merchants will now have the ability to accept Discover, Diners Club International and affiliate network card payments.”

May 28, 2019

On the wires

March 1, 2019

On the wires

Barclaycard UK Merchants to Accept Cards That Run on the Discover Global Network

“Accepting these payment methods allows Barclaycard’s merchants to process transactions from the customers of Discover Global Network’s more than 10 network alliance partners and 55 countries where Diners Club cards are issued. Cardholders are now able to pay at over 110,000 of Barclaycard’s UK merchants both in-store and online, with thousands more merchants set to start accepting Discover Global Network cards over the course of the year.”

January 18, 2019

On the web

Discover increase acceptance in Nordics through Nets

Payments Cards & Mobile

“Diners Club International, a part of the Discover Global Network has signed an agreement with Nets, a leading to help expand Discover Global Network acceptance in Norway, Sweden, Denmark and Finland. Today, Nets offers customers one of the widest ranges of payment brands in the Nordics, including both local payment schemes and international payment brands. With this agreement, Nets will work with current and prospective merchant partners to help provide increased acceptance of Discover, Diners Club International, PULSE and affiliate network cards across these markets.”

January 11, 2019

On the wires

3C Payment Works with Discover to Expand Card Acceptance Across Europe and the Middle East

“3C Payment is a leading multi-channel payment service provider that works with merchants in hospitality, quick service restaurant and retail industries among others. These merchant industries are a focus for Discover and partner cardholders who travel throughout Europe and Middle East. Discover Global Network has over 44 million merchant acceptance locations and 2 million ATM and cash access locations across 190 countries and territories, and includes Discover, Diners Club International, PULSE and affiliated networks.”

November 13, 2018

On the wires

October 29, 2018

On the web

New CEO Says Payments Are a ‘Big Part’ of Discover’s Growth Strategy

Digital Transactions News

“Discover Financial Services’s lending operations dwarf its payments business, but payments nonetheless are an important component of the company’s growth strategy, new chief executive Roger C. Hochschild said Thursday. Hochschild, who joined Discover in 1998 and served as its president and chief operating officer for 14 years, this month succeeded longtime CEO David Nelms, who remains as Discover’s executive chairman until early next year. Hochschild held his first conference call as CEO Thursday afternoon to review Discover’s third-quarter results with analysts.”

October 19, 2018

On the wires

Discover Supports EMVCo’s Release of EMV® SRC Draft Specification, Welcomes Additional Step to Address Broader Industry Feedback

“Discover today announced its support of EMVCo’s v0.9 release of the EMV [®*] Secure Remote Commerce (SRC) draft specification and emphasized the importance of EMVCo’s additional step to provide an opportunity to all industry stakeholders to comment on the standards before the first complete version is issued in 2019.”

September 14, 2018

On the wires

Discover to Increase Card Acceptance in Mexico Through Network Alliance with Prosa

“Discover Financial Services, a leading direct bank and payments services company, and Promoción y Operación S.A. de C.V. (Prosa), a leading payment solutions provider and domestic payments network in Mexico, signed an agreement to form a strategic network alliance to expand Discover® Global Network acceptance in Mexico. Discover, Diners Club International®, PULSE and network affiliate cards will now be accepted on Prosa’s network in Mexico at both point-of-sale and ATM locations.”

August 8, 2018

On the wires

Discover Adds Freeze ItSM Feature, Auto Cash Back Redemption to Savings and New Debit Card Design to Discover Cashback Debit Accounts

“Discover is introducing more features and debuting a new debit card design for the Discover Cashback Debit product. Customers of Discover Cashback Debit, previously known as Discover Cashback Checking, will now be able to temporarily freeze their debit card, automatically transfer their earned cash back to their eligible savings account and pay using a stylish new card.”

August 3, 2018

On the web

Business Payments Directory Association Teams With Discover For Blockchain PoC

BankingTech

The US-based Business Payments Directory Association (BPDA) has partnered with Discover Financial Services to develop a proof of concept (PoC) platform for its B2B directory built on blockchain technology. BPDA’s directory offers a searchable database of electronic payments information for business transactions. “Despite payments advancements, cheques are still the dominant form of payment for B2B payments,” says Lawrence Buettner, BDPA chairman. “Our B2B directory will not only provide access to this information, but support routing instructions, preferred payment methods, remittance details, [and] delivery preferences.” The directory will be structured as a network of credentialed service provider “sub-directories”, in which trusted and validated payee information will be stored.”

July 31, 2018

On the wires

Discover And NCCC Extend Relationship By Signing Network Agreement

Business Wire

“Discover Financial Services, a leading direct bank and payments services company, and National Credit Card Center of R.O.C. (NCCC), the domestic payment network in Taiwan, today signed an agreement to form a strategic network alliance and expand its existing acquiring relationship. Currently, Discover, Diners Club International, and network affiliate cards are accepted on the NCCC network in Taiwan. The new agreement will allow acceptance of NCCC Global Cards outside of Taiwan on the Discover Global Network.”

February 22, 2018

On the wires

January 26, 2018

On the web

The Beat Picks Up at Pulse as Discover’s Transaction Volume Grows

Digital Transactions News

“Last year was a year of revival for Discover Financial Services’ long-suffering Pulse debit network, which posted a 19% fourth-quarter increase in year-over-year dollar volume on 15% more transactions. The strong finish—$42.4 billion in volume on 1.03 billion transactions—brought Pulse’s full-year volume to $157.1 billion, up 14% from $138 billion in 2016. The transaction count hit 3.86 billion, a 12% increase from 2016’s 3.46 billion.”