Discover Financial Services operates the Discover Card and Discover Network. The Metavante-Discover agreement will make Metavante a convenient source for merchant processing, as it provides consolidated services for card transaction acquiring and processing, settlement, pricing, statements, risk management and customer service. Metavante Merchant Services clients will also receive a single deposit for easier balancing, settlement and monthly reconciliation.
Metavante Payment Solutions delivers electronic money movement through an integrated payments network, including an ATM/PIN-debit network in NYCE, mobile banking and payments delivered through NYCE, a check image exchange network in Endpoint Exchange, online bill pay, healthcare payment solutions, a suite of payment cards and automated clearing house processing.
Bruce Hopkins, division president of Metavante Acquiring Solutions, said: Our agreement with Discover makes it possible for Metavante to provide integrated processing services for Discover Network and other card associations. Beyond facilitating merchant acceptance of Discover Network card transactions and an enhanced range of point-of-sale payment options, Metavante now offers a streamlined payment processing solution, evolving into a single source for merchant services.
