Amalgamated Bank of Chicago has agreed to issue a Discover-branded credit card designed for Joint Council Teamster local union members throughout the U.S., Discover Financial Services announced May 12.
Amalgamated Bank is marketing the card to prospective customers in conjunction with American Union Financial Services, which provides financial services to various labor unions and their members. The new card is available nationally to union members who meet the card issuer’s underwriting criteria.
The American Union Financial Services Discover card features no annual fee, zero liability on fraudulent transactions and the opportunity to sign up for the bank’s $15-a-year AmalgaMiles travel-rewards program.
Amalgamated Bank continues to offer MasterCard-branded cards to its general customers.
Discover also continues to expand its global presence with a recent merchant-acquiring deal with Germany-based WireCard Bank that specializes in the customer-not-present space.
Discover has been working to secure global point-of-sale card acceptance across the Discover and Diners Club International networks since 2009 (see story). http://www.paymentssource.com/news/Discover-PaymentsSource-Profitability-3001478-1.html.
This agreement with Wirecard enables Discover to “further expand our international acceptance in key markets,” Gerry Wagner, Discover executive vice president of international acceptance, said in an e-mail.
The bank has branches in several European countries, including France, Germany, Ireland and the United Kingdom. Additionally, cardholders may use their cards in Asia, including China, Hong Kong, India, Taiwan, Thailand and Vietnam.
Through the agreement, the bank will handle the processing and settlement of both Discover and Diners Club transactions. The partnership also enables cardholders to use their cards wherever Wirecard has a presence, which includes non-U.S. online merchants, Thomas Kappner, Wirecard head of acquiring and chief representative, said in an e-mail.
Additionally, with “Diners and Discover now accepted by Wirecard Bank, merchants are offered a better integration of the services, higher conversion rates and increased sales from a single source,” Kappner explained.
Separately, the National Association of Federal Credit Unions’ NAFCU Services Corp. on May 6 named Discover as one of its 26 preferred partners for national payment-network services.