Posted by Michael Nardini, Vice President of Customer Satisfaction
For those of you who accept Discover, you should have noticed a change on June 1, 2010. For most of you if your merchant bank has made the change, Discover is now being deposited into your checking account combined with Visa and MasterCard. It used to be a separate entry but now they have joined the main brands to offer you some additional benefits.
Besides bundling the deposit together making reconciliation easier, you should now have a few more benefits:
1 – One customer service phone number. Your Visa/MasterCard processor should be able to handle all customer service inquiries for you.
2 – One voice approval hotline so that you don’t have to remember different voice approval phone numbers.
3 – One statement. Discover should be itemized like Visa and MasterCard have been.
4 – Same time-frame for funding as you had with Visa and MasterCard.
5 – In some cases lower % fees for processing Discover the same as you pay for Visa and MasterCard.
There shouldn’t have been anything you would have had to do to change. Your merchant provider should have helped you through with this change. I mention above in terms like “should have” or “should be handling” just to remind you that your merchant bank should have made this an easy change for you and that they should have passed the benefits down to you. If you’re not seeing any of the benefits above you should reach out to me to find out how our Payment Processing team can help you get set up with another provider.