Discover Extends Merchant Acceptance in Spain Through Agreement with Redsys

Redsys, the largest payments processor in Spain, and Discover Global Network, the payments brand of Discover Financial Services, announced that they have signed an agreement that will extend merchant acceptance throughout Spain. The agreement enables Discover to work with additional acquirers in the region in an effort to increase acceptance for Discover, Diners Club International, PULSE and affiliate network cards.

Redsys provides its high value services to acquirers that hold approximately 90 percent of the market share in Spain with regards to card processing and point of sale systems.

The new agreement makes it possible for Discover to connect with more merchants in the country that are interested in accepting Discover Global Network cards through Discover acquirer relationships. Through Redsys, Discover has already signed agreements with two primary acquirers in Spain and is exploring additional relationships to increase acceptance even further.

“Thanks to our agreement with Redsys, we now are actively working with two more acquirers in Spain to boost the acceptance of Discover Global Network cards,” said Amy Parsons, senior vice president of global acceptance at Discover. “Spain is a travel destination of choice for many of our cardholders and we are looking forward to providing them with more opportunities to use their cards throughout the country.”

Redsys is a highly specialized technology and operational provider in the payments industry for the most important financial institutions in Spain (banks, credit and debit companies), processing approximately 90 percent of the acquiring market share in the region. Redsys also works close together with those clients on international projects when they need the help of the main payments processor of Spain.

The Discover Global Network includes Discover Network, Diners Club International, PULSE and affiliate networks. It has more than 44 million merchant acceptance locations and 2 million ATM cash access locations around the world.

About Discover

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 issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised 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 around the world. For more information, visit www.discover.com/company.

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Sarah Grage [e-mail]@Discover_News