Discover Partners its Way into Mobile Payments
Discover is attempting to partner its way into mobile payments and
increasing its market share.
The credit card company is partnering with PayPal and will equip the
more than seven million U.S. merchants that accept Discover with the
option to also accept PayPal as payment by the end of next year.
PayPal is a popular form of payment for online purchases, but is not
widely accepted at traditional retail stores. Merchants who add PayPal
as a form of payment will pay transaction fees to PayPal instead of
Visa, Mastercard and other processors.
Discover is also partnering with Google to provide its customers
simple access to Google Wallet. Discover customers can click a button
on the website that loads the credit cards into PayPal. Merchants who
sign on will pay processing fees to PayPal for any transaction made
with the service, avoiding the processing fees set by Visa, MasterCard
and other payment networks for traditional card transactions. The
Google payment app runs on Andriod smartphones.
The information contained within this article was accurate as of August 27, 2012. For up-to-date
information on any of the terms, cards or offers mentioned above, visit the issuer's website.