More than 4 million merchants in the United States accept Discover credit cards. The United States general credit card market shows that the Discover Card share based on purchase volume was 4.75% for 2008. This is relatively lower than that of American Express or JP Morgan and Bank of America’s cards. Discover is not as commonly accepted as those cards with Visa or MaterCard logos. However, they are growing in popularity with consumers by offering programs that include a cash back bonus.
Initially, the Discover card company became active in 1985 and was sustained by Sears Roebuck and Company. However, today, they are an independent company and are unique because they are not issued through a variety of financial institutions. Business owners should consider accepting Discover cards as a payment option for their customers. It might help them make sales that they could otherwise lose to their competitors.
In addition to giving more payment options to your customers, there are other benefits of accepting Discover Card. Discover has 50 million card holders. With their combined point of sale and ATM transactions, they top over 3 billion a year. Talk to your merchant account provider about being set up to accept Discover cards and about the associated fees for their services. Depending on the size of your business and the amount of credit card transactions that you conduct, it may be beneficial to additionally include this growing company.