11/03/2011

FIS Adds Discover Network to Card Processing Capabilities

JACKSONVILLE, Fla., Nov. 3, 2011 − FIS™(NYSE: FIS), the world’s largest provider of banking and payments technology, today announced an agreement with Discover Financial Services to process cards that are accepted over the Discover® Network. A leader in card processing, FIS offers fully integrated transaction processing solutions, providing a single point of authorization, transaction posting, settlement, reporting and access for all services. In addition to the newly added Discover cards, FIS currently supports card issuers for Visa®, MasterCard®, and American Express® as well as domestic schemes and proprietary card brands.

The Discover Network is a comprehensive and secure payments network. A business unit of Discover Financial Services, Discover Network markets and supports a full range of credit, debit and prepaid cards including the Discover Card. At least one in four U.S. households hold a Discover Card. Further, Discover’s U.S. card issuing business has more than $46 billion in receivables. 

FIS provides card processing services for every aspect of card production and processing including activation, fraud management and value-add loyalty programs. In addition, FIS’ solutions provide end-to-end processing support of consumer, commercial, small business and private-label card programs. Currently, FIS processes 70 million credit cards, 125 million debit cards and in excess of 180 million prepaid cards on a global basis. In the U.S. alone, FIS provides credit card processing for 3,000 financial institutions.

“FIS’ comprehensive solutions will allow us to focus on what is most important to us – continuing to find ways to better serve our customers,” said Kevin O’Donnell, vice president of Card Issuance, Discover Network.

“Adding the Discover Network to FIS’ card processing offerings provides FIS’ clients, and the end user, with more options for their credit card needs,” said Frank D’Angelo, executive vice president, FIS Payment Solutions Group. “By teaming with FIS, Discover Network broadens its network of processors, while providing increased customer satisfaction and loyalty to its issuers and cardholders alike.”