Discover, one of the largest financial services companies in the United States, has announced a partnership with cross-border payments solution firm Checkout.com. The new agreement will help drive Discover’s credit card acceptance rate.
The collaboration means that all Checkout.com merchants will have the opportunity to accept sales from cards using the Discover Global Network starting on October 2nd.
Discover’s association is the third largest payments network in the world, with more than 35 million merchant acceptance locations and one million ATM and cash access locations across 185 countries and territories.
‘‘Online cross-border purchases are on the rise as customers can now search around the world for the products and prices they want,’’ said Ricardo Leite, vice president, Discover Global Network.
“Checkout.com is an important player in the online ecosystem and working with them aligns with our goal of expanding our portfolio of online merchants.”
Formed in 2010, Checkout.com has been working with e-commerce merchants across the globe.
The company allows online retailers the ability to offer shoppers their preferred payment method. With this new partnership Checkout will add acceptance of Discover and alliance partner cards to its payments processing services portfolio.
‘Interconnecting sellers and buyers’
Discover is looking to partner with more online payment companies in its attempts to increase its credit card acceptance levels. The financial institution has also teamed up Diners Club International, a direct banking and payment services company who will also have access to Checkout.com’s platform.
‘‘The Internet today is interconnecting sellers and buyers across borders like never before and relies on solid and widespread payments networks to make it work,” said Mathieu Altwegg, CEO of Checkout.com.
‘‘We are proud to be a new member of the Discover Global Network and glad to allow our online merchants to access 70 million new cardholders around the world.’’
Checkout.com has been involved in several partnerships during 2015. In August the firm teamed up with Sofort to integrate its technology into its checkout platform. Earlier in the month the group announced a deal with Tenpay, giving merchants access to customers in China, an e-commerce market The Economist predicts will be bigger than America, Britain, Japan, Germany and France combined by 2020.
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