Discover Zip is a payment solution that enables fast and convenient transactions with enhanced security features via contactless technology. Consumers touch a payment device, which is in the form of either a plastic card or [image-nocss] a sticker that can be applied to a mobile phone or any personal item of their choosing, to a Zip-enabled contactless reader to make a payment. Currently, more than 100,000 U.S. merchant locations offer contactless readers that accept Zip transactions at the point-of-sale, including quick service restaurants, gas station and convenience stores, retailers and pharmacies, and public transit agencies.
"At Discover, we put a high bar on value to the customer, and are always evaluating technology solutions that make things faster, safer and more convenient for our cardmembers," said Mark Scarborough, senior vice president of cardmember marketing at Discover. "Given how tied consumers are to their mobile devices, we know they will appreciate the tremendous value and convenience Discover Zip contactless cards and stickers provide."
Discover is not new to the contactless space. The company's payments business, Discover Network, has worked with merchants to certify contactless readers for many years, and was the first to test credit-based contactless stickers, it said.
Issuers, merchants and acquirers can benefit from Discover Zip with increased transaction volume and customer loyalty.
Discover Financial Services is a direct banking and payment services company with. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories.
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