Bank of America Merchant Services is pleased to be the full acquirer for Discover® Transactions!  

New Benefits

What this means to you is that effective June 1, 2011, the Discover® transactions you accept which are

processed under Discover® operating regulations, will now be processed and funded by Bank of America Merchant Services. The existing State of Florida, Discover® contract expires on May 31, 2011.  This means that if you are currently taking Discover®, all transactions processed after that date will be processed by Bank of America Merchant Services.  The benefits of this change will include the following:

•       Settlement and Reporting: Discover® card transactions will be deposited in the same manner as VISA® and MasterCard®.  Funds will be available the next day, and settled with the VISA® and MasterCard® ACH deposit.  Your statement or online reporting will include all VISA®, MasterCard® and Discover® transactions. 

•       Voice Authorizations: There will be one phone number to call for all voice authorizations—Discover®, as well as VISA® and MasterCard®   transactions. You will be receiving a new sticker to replace your old voice authorization sticker.

•       Chargeback Processing: Discover®  retrieval requests and chargeback’s will be handled and reported by Bank of America Merchant Services just like those for VISA® and MasterCard®. 

 •       Customer Service:  There will have one point of contact for all questions—Discover®, as well as VISA® and MasterCard® transactions.

•       Merchant Agreement: There will be just one merchant agreement for Discover®, VISA® and MasterCard®.  Your existing Bank of America, N.A. merchant contract and Participation Agreement will govern Discover® card authorizations requested, new sales transactions made and related responsibilities arising on and after June 1, 2011.

 •      Authorization and Processing Rates: Discover® uses the same pricing structure as VISA® and MasterCard®.  Consequently your pricing will change.  The previous Discover® contract pricing contained a bundled rate that included the discount rate and Discover® transaction fee.  The new fee structure will be based on the attached Discover® Interchange rate schedule and the state contracted per authorization fee.