Deal with Leading Global Acquirer Expected to Increase Acceptance of Diners Club® and Discover Cards
Riverwoods , IL and Atlanta , GA – March 15, 2010 – Diners Club International ® Ltd. , a business unit of Discover ( NYSE: DFS) , and Global Payments Direct, Inc., a subsidiary of Global Payments Inc. (NYSE: GPN), today announced the signing of a merchant acquiring agreement. Under the terms of the Agreement, Global Payments will add Diners Club ® card acceptance to its portfolio of payment processing services in selected markets. Diners Club and Discover Cardmembers soon will have the ability to use their cards in markets where Global Payments has a presence, which include the U.K. and certain other territories in Western Europe, Hong Kong , India , and Taiwan .
“This agreement helps to further enhance Diners Club International's position as a leading global payments network and demonstrates our commitment to expand acceptance throughout the world.” said Rajive Chadha, President of Diners Club International. “Our relationship with a marketplace leader like Global Payments will bring more value, choice and convenience for Diners Club and Discover Cardmembers.”
Global Payments, one of the largest worldwide merchant acquirers, will provide consolidated pricing, underwriting, risk management, processing, settlement, support and reporting to merchants, ultimately simplifying payments processing. The relationship will increase volume and broaden Diners Club and Discover card acceptance among small- to mid-sized merchants.
“The ability of our organization to provide an easy to use, integrated solution for merchants, particularly throughout our key markets in Europe and Asia , will help Diners Club and Discover reach their goal of international acceptance,” said Paul R. Garcia, Chairman and CEO, Global Payments. “It's important that merchants have a streamlined process in place when it comes to acceptance. With this deal, merchants will benefit from increased transaction volume as well as a single point of contact for all of their processing needs.”
About Diners Club International:
Diners Club International is owned by Discover Financial Services (NYSE: DFS), a leading credit card issuer and electronic payment services company. Established in 1950, Diners Club International became the first multi-purpose charge card in the world, launching a financial revolution in how consumers and companies pay for products and services. Today, Diners Club is a globally recognized brand serving the payment needs of select and affluent consumers as well as providing corporations and small business owners with a complete array of expense management solutions. With acceptance in more than 185 countries and territories, millions of merchant locations and access to over 675,000 cash access locations and ATMs, Diners Club is uniquely qualified to serve its cardmembers all over the world. For more information, visit www.dinersclub.com .
About Global Payments:
Global Payments Inc. (NYSE: GPN) is a leading provider of electronic transaction processing services for merchants, Independent Sales Organizations (ISOs), financial institutions, government agencies and multi-national corporations located throughout the United States, Canada, Europe, and the Asia-Pacific region. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery including electronic check services, as well as terminal management. Visit www.globalpaymentsinc.com for more information about the company and its services.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States . The company operates the Discover card, America 's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.
Mai Lee Ua
Diners Club International
Global Payments Inc.