Discover recently announced several partnerships the company believes will enable them to leverage its network assets for innovative applications.
Among them, Discover has partnered with PayPal to help increase the company’s payment acceptance at offline retailers. And it has partnered with Ariba to support the upcoming AribaPay product, which is designed to facilitate low-cost B2B payments.
Discover has been clear that both of these partnerships represent long-term opportunities.
Discover is processing some transactions through the PayPal partnership, mostly on a test basis for the time being, Discover CEO David Nelms says, adding the partnership has signed more than 50 merchant acquirers. ‘We have a lot of acquirers and merchants to sign, this will take some period of time,’ he said. ‘The majority of the work is still ahead of us.”
AribaPay meanwhile, isn’t expected to launch until early 2014.
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