In its second-largest acquisition, Amazon buys the company for $970 million.
Some online merchants who accept Discover cards for payment will also be able to accept Japan’s JCB cards next year, the two companies announced this week. Discover plans that eventually all e-retailers who accept Discover will be able to accept JCB.
Some online merchants who accept Discover cards for payment will also be able to accept Japan’s JCB cards next year under an agreement announced this week between the two card companies. Discover plans that eventually all online merchants who accept Discover will also be able to accept JCB.
Discover Financial Services, a business unit of Morgan Stanley, and JCB, the largest card issuer and acquirer in Japan, this week announced they have entered into a strategic relationship that will lead to increased card acceptance for both companies.
Under the arrangement, JCB cards will be accepted on the Discover Network in the U.S. and Discover cards on the JCB network in Japan. The agreement also covers the acceptance of PULSE cards at targeted ATMs in Japan at the option of the card issuer. Discover operates the Pulse network. Discover Network will begin enabling its systems in 2007 so JCB cardholders will be able to use their JCB cards at Discover Network merchant locations throughout the United States. Discover Network cardholders will be able to use their cards for purchases at JCB merchant locations and for cash advances at targeted ATMs throughout Japan beginning in 2008.
“This strategic relationship with Discover will bring significant expansion of JCB card acceptance in the United States,” says Hiroya Nobuhara, president and CEO,