Discover Global Network Signs Deal with Desjardins Group to Expand Merchant Credit Card Acceptance in Canada
May 24 2017 - 12:00PM
Business Wire
Discover Global Network, the third largest payments network in
the world1 and part of Discover Financial Services, has entered
into an agreement with Desjardins Group, the leading cooperative
financial group in Canada through its Monetico payment solutions,
to expand acceptance in Canada. Merchants that have business
relationships with Desjardins are now able to accept cards that run
on the Discover Global Network, including Discover, Diners Club and
alliance partner cards.
“As one of the top countries that Discover cardmembers travel to
and a popular global travel destination, expanding the Discover
Global Network footprint in Canada has been and continues to be a
major priority,” said Ricardo Leite, vice president, Discover
Global Network. “Working with Desjardins will provide a significant
boost to our merchant acceptance throughout Canada, especially in
the province of Quebec.”
“Desjardins is very pleased with the launch of this offer, which
demonstrates once again how we respond to the current needs of both
the market and our clients—from local entrepreneurs to major
corporations—giving them the opportunity to multiply their business
opportunities,” said Patrice Dagenais, vice president of payment
services and business partnerships, Desjardins Group. “We’re
committed to simplifying and facilitating the client
experience.”
As a popular travel destination, Canada welcomes nearly 14
million visitors from the U.S. annually2 and that number is
expected to increase by more than 20 percent by the year 20203. In
an effort to provide more payment options and a more seamless
payment experience for cardholders, Discover Global Network has
expanded considerably within Canada in recent years. From 2015 to
2016, transactions on the Discover Global Network increased by more
than 20 percent in Canada4. Furthermore, the majority of merchants
in Canada now accept Discover5.
About Discover Global Network
Discover Global Network, the global payments brand of
Discover Financial Services, processes millions of cardholder
transactions each day. With industry expertise, innovative
technology and a closed-loop infrastructure, Discover Global
Network provides effective, customized solutions that evolve as
needs change. Discover Global Network has alliances with more than
10 payments networks around the world, and is led by three Discover
businesses: Discover network, with millions of retail 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.discovernetwork.com.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in
Canada and the sixth largest cooperative financial group in the
world, with assets close to $260 billion. It has been rated one of
the Best Employers in Canada by Aon Hewitt. To meet the diverse
needs of its members and clients, Desjardins offers a full range of
products and services to individuals and businesses through its
extensive distribution network, online platforms and subsidiaries
across Canada. Counted among the world's strongest banks according
to The Banker magazine, Desjardins has one of the highest capital
ratios and credit ratings in the industry.
About Monetico
Monetico is the result of a partnership by two major
institutions, Desjardins Group in Canada and Crédit Mutuel in
France, with shared cooperative and mutualist values. Their goal is
to prioritize the interests of merchants by creating a range of
solutions geared to both local entrepreneurs and large-scale,
international businesses. To learn more, visit
www.monetico.com.
1 By merchant locations, Global Payment Cards Data and Forecasts
to 2020 – Regional Comparisons, Retail Banking and Research (RBR),
July 2015
2 Canada Tourism, https://us-keepexploring.canada.travel
3 Euromonitor International, Flows in Canada 2015
4 Based on 2015-2016 internal data
5 Based on internal franchise/acquirer reporting as of December
2016. Subject to change.
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version on businesswire.com: http://www.businesswire.com/news/home/20170524005899/en/
Discover Financial ServicesJeremy
Borling224-405-4252jeremyborling@discover.com@Discover_News
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