Discover, Canadian merchant acquirer agree on major expansion

Discover Financial Services and Moneris Solutions, Canada's largest merchant acquirer, today announced the signing of an agreement to expand Discover acceptance in Canada. Beginning next year, the deal will provide Moneris Solutions merchant customers with access to the millions of card members and billions in spending of the Discover and Diners Club International networks.

“This relationship with Canada's largest merchant acquirer marks a significant merchant growth opportunity for Riverwoods-based Discover in Canada,” said Gerry Wagner, Vice President of Global Acceptance at Discover.

“We plan to aggressively expand our acceptance footprint in the coming years throughout Canada a popular travel destination for our card members and provide card members from all over the world with the ability to use their cards at merchants throughout the country.”

“We are excited to be the first payments processor to offer Discover acceptance to the merchant community in Canada,” said David Ades, SVP, Sales and Marketing at Moneris Solutions. “Discover provides a way for merchants to maximize their business growth opportunities through the millions of international travelers that enter Canada every year.”

Discover Financial Services is a direct banking and 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, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary.

As one of North America's largest providers of payment processing solutions, Moneris offers credit, debit, wireless and online payment services for merchants in virtually every industry segment and processes more than three billion transactions annually.