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Comdata Processing Systems, Inc. Enters Into Agreement with Discover Financial Services
Brentwood, Tenn., January 31, 2008 Comdata® Processing Systems, Inc. announces it has entered into a merchant acquiring agreement with Discover Financial Services (NYSE: DFS). Comdata Processing Systems' integrated processing solutions for its merchants will now include Discover Network card transactions.
By adding Discover Network card acceptance to its suite of processing solutions, Comdata Processing Systems will provide an additional revenue stream for its sales channels, thus creating an additional competitive advantage. Comdata merchants will not only have a single-source payment solution but also a single monthly merchant statement as well as one financial settlement through Comdata's merchant accounting system.
Comdata is expected to begin processing Discover Network transactions in the second quarter of 2008.
“The addition of the Discover Network to our suite of payment processing solutions will heighten Comdata's position in the marketplace as a leading full-service issuer and processor of payment cards, including point-of-sale transactions,” said Rod Katzfey, Comdata senior vice president and general manager. “Comdata's ability to authorize, settle and fund all card payment transaction types, including Discover, through a single point of connectivity will result in decreased costs, improved service, and seamless integration of expanded payment options.”
“Our agreement with Comdata is another example of how Discover is broadening acceptance of Discover Network cards while increasing the momentum Discover Network has been gaining within the merchant acquiring community,” said Matt Johanson, vice president of acquirer relations for Discover Financial Services. “Comdata will provide their sales channels with an improved product offering, their merchants with a streamlined, integrated processing package, and all Discover Network cardholders the opportunity to use their preferred payment option at more merchant locations.”
About Comdata Corporation
Comdata® Corporation is redefining the movement of money and information through innovative payment solutions. Comdata provides custom solutions for a wide range of industries such as transportation, retail, government services, aviation, construction, service businesses, restaurants and hospitality. Innovative electronic payment solutions range from credit and debit cards, fleet, fuel, payroll, purchasing and T&E. Comdata's platforms support both its proprietary and branded card networks. Headquartered in Brentwood, Tennessee, Comdata employs more than 1,100 people. www.comdata.com
About Ceridian
Ceridian Corp. is a business services company that helps its customers maximize the power of their people, lower their costs and focus on what they do best. The company's suite of innovative managed human resource solutions includes payroll and compensation, employee benefits administration, staffing, compliance, HR administration and Employee Assistance Programs (EAP), work-life and health and productivity solutions. Ceridian serves businesses and employees in the United States, Canada and Europe. For more information about the human resource outsourcing company's comprehensive array of solutions, visit www.ceridian.com or call (800) 729-7655. Through its Comdata and Stored Value Solutions (SVS) subsidiaries, Ceridian is a major payment processor and issuer of credit cards, debit cards and stored value cards, primarily for the trucking and retail industries in the United States. www.ceridian.com
About Discover Financial Services
Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. The company operates the Discover Card, America's cash rewards pioneer. Since its inception in 1986, the company has become one of the largest card issuers in the United States. Its payments businesses consist of the Discover Network, with millions of merchant and cash access locations, and PULSE, one of the nation's leading ATM/debit networks. Discover also operates the Goldfish credit card business in the United Kingdom. www.discoverfinancial.com