Discover consider teaming up with Masterpass and Visa Checkout
Visa Checkout hopes to join industry giants such as PayPal and Google Pay by becoming one of the buttons you see on a retailer such as Alternative Airline's checkout page. Instead of competing in this market solo, however, the world's largest card networks, Visa and Mastercard, are going to combine their strengths and add both their new online payment methods, Visa Checkout and Discover will collaborate in this venture. The cards are hoping to compete with the services offered by PayPal. However, this project is still in the early stages. The button is still being developed. Mastercard and Visa won’t start moving consumers enrolled in Visa Checkout and Masterpass to the new program until later this year.
1st March 2018
Discover to expand in IoT Payments with FitPay
Discover Financial Services Inc. and FitPay Inc. has announced a network services agreement. This agreement will commence a seamless payment experience for Discover cardholders, along with users of other partner cards. Customers will be able to make contactless payment transactions at retail locations with wearable or Internet of Things (IoT) devices that have payment capabilities powered by FitPay.
The Internet of Things has aspirations to revolutionize the payments industry. Discover Financial sees huge growth opportunity in the expanding IoT payments' space. The IoT has taken the payment process to the next level, where payments can be made via a broad and diverse ecosystem of Internet-connected devices, such as wearables, connected cars, and smart home devices from the current focus on mobile phones, cards, and point-of-sale devices. The need of the hour is seamless payments through a number of touch points.
Discover Financial is predicted to increase its IoT partnerships by enabling it to grow its business volume and strengthen its brand name. It is estimated that more than 20.4 billion devices will be connected to the Internet by 2020. Discover Financial has been on the forefront with respect to technological investments and enhancements. It is a leader in its market and investors have high confidence in the company, given its robust operating fundamentals and future growth.