Diners Club International Ltd., a business unit of Discover (NYSE: DFS), and Global Payments Direct, a subsidiary of Global Payments (NYSE: GPN), today announced the signing of a merchant acquiring agreement.
Under the terms of the agreement, Global Payments will add Diners Club® card acceptance to its portfolio of payment processing services in selected markets. Diners Club and Discover Cardmembers soon will have the ability to use their cards in markets where Global Payments has a presence, which include the U.K. and certain other territories in Western Europe, Hong Kong, India, and Taiwan.
"This agreement helps to further enhance Diners Club International's position as a leading global payments network and demonstrates our commitment to expand acceptance throughout the world," said Rajive Chadha, President of Diners Club International. "Our relationship with a marketplace leader like Global Payments will bring more value, choice and convenience for Diners Club and Discover Cardmembers."
Global Payments, one of the largest worldwide merchant acquirers, will provide consolidated pricing, underwriting, risk management, processing, settlement, support and reporting to merchants, ultimately simplifying payments processing. The relationship will increase volume and broaden Diners Club and Discover card acceptance among small to mid-sized merchants.
"The ability of our organization to provide an easy to use, integrated solution for merchants, particularly throughout our key markets in Europe and Asia, will help Diners Club and Discover reach their goal of international acceptance," said Paul R. Garcia, Chairman and CEO, Global Payments. "It's important that merchants have a streamlined process in place when it comes to acceptance. With this deal, merchants will benefit from increased transaction volume as well as a single point of contact for all of their processing needs."