Discover Network Announces New Merchant Advisory Council

"As the payments industry landscape continues to evolve, it becomes increasingly important that we leverage our partnerships to focus on ways to further improve efficiencies, security and value to the products and services we provide," said Harit Talwar, executive vice president of Discover Network for Discover Financial Services. "This council enables Discover Network to do that, while deepening our strong relationships with merchants as we exchange ideas and views."

Discover Network's Merchant Advisory Council is currently made up of approximately 20 member companies including American Airlines Inc., Darden Restaurants Inc., Enterprise Rent-A-Car, Knowledge Learning Corp., Kohl's Department Stores Inc., McDonald's Corporation, QuikTrip Corp., The Sharper Image, SUPERVALU, and Wal-Mart Stores Inc.

The Discover Network Merchant Advisory Council, along with the existing PULSE Financial Institution Oversight Committee, ensures a broad representation of views and perspectives for merchants and issuers in the PULSE and Discover Networks. Discover acquired the PULSE EFT Association in January of 2005.

The Merchant Advisory Council will meet approximately every six months. The first meeting is scheduled for June 19 - 20, 2006, and will be held in Chicago.

Discover's expansion and diversification initiatives over the last two years represent important steps as it evolves from a single product issuer into a broad-based payments company supporting multiple issuers and products, while bringing choice and value to merchants, issuers and consumers. Recent initiatives include the launch of Discover Debit, the company's signature debit program; the strategic alliance with China UnionPay; agreements with GE Consumer Finance to issue co-branded credit cards on the Discover Network; and the acquisition of the PULSE ATM/debit network.