Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic 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 operates the Discover card, America's cash rewards pioneer. Its payments businesses consist 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 in 185 countries and territories. For more information, visit www.discoverfinancial.com.
Discover markets and supports a full range of credit, debit, and prepaid payment products and provides customer-centric tools and programs designed to help issuers, acquirers, and merchants drive loyalty, increase transaction volume, and run their business more effectively. Leveraging its rich legacy of fraud prevention, customer service, and innovative partner marketing practices, as well as its hands-on merchant, issuing, and acquiring knowledge, Discover sets itself apart by delivering meaningful and differentiated solutions.
Discover offers a turnkey suite of solutions for credit unions spanning debit card programs and debit networks. Solutions are built to attract and retain members through expanded, enhanced and competitive solutions as well as fit the needs of different credit union issuers. Credit unions may choose one or multiple products to suit their member base, satisfying both consumer and business needs. For credit unions interested in pursuing the small business marketplace, Discover also offers valuable small business industry resources.
Payment network solutions drive member loyalty and acquisition, responsible consumerism, product differentiation and innovation. Discover provides thoughtful customer service and support through a collaborative approach that includes a Discover Network Relationship Manager to help create programs and marketing materials to fit the unique needs of each credit union.
Moreover, Discover is committed to providing competitive economics for credit union issuers. Interchange rates are at parity with the other networks. Further, Discover does not have licensing fees or a sponsorship process, which eliminates a set of fees charged by other networks. In addition, its turnkey marketing solutions reduce campaign development costs for credit union issuers. The company’s analytics and research allow issuers to target campaigns to the appropriate audiences to get the maximum return on their investment.
NAFCU Member-Only Benefits
NAFCU member credit unions that join Discover receive a significant discount of the implementation fee. The standard implementation fee of $20,000 is reduced to $1,000 per credit union. If a credit union chooses to use an uncertified processor for their Discover program, the processor set-up charge is reduced from the standard process set-up fee of $20,000 to $1,000.