Operators could have a chance to save money by asking their present credit card processors to board Discover on their platforms.
Discover has announced that it is no longer looking to expand its merchant acquisitions in the marketplace.
In fact, in the last 60 days Discover has had a portion of its portfolio for sale and various processors have been looking at this acquisition. Industry insiders believe that by August Discover will have boarded its last merchant.
So what does this mean to you as limousine operators? This is an opportunity to save even more money by having your present processor board Discover on its platform. This means that your deposits will include Visa/MasterCard/Discover. This will eliminate the Discover Statement fee and any other additional charges that Discover assesses.
In short, it is estimated that in the next six months or so, if you have a direct relationship with Discover, you will have to convert that processing to someone else. This does not mean Discover is not going to be a viable card; it simply means that it will be a typical bankcard, just like Visa and MasterCard.
If you have any questions, simply reach out to your present processing company and they will help you sort through what needs to be done.
-- Crystal Sulzer, Ferrari Merchants