Discover’s Payment Services dollar volume hit $83.0 billion for the fourth quarter of 2014, up 3% from the prior year. PULSE transaction dollar volume was up 4% year-over-year (Y/Y). PULSE also unveiled a new corporate logo and acceptance mark this week.
The PULSE network remains the key driver of payments transaction volume for Discover Financial Services (DFS), growing 4% year-on-year (Y/Y) in the fourth quarter (Q4/14) to $41.8 billion, representing 50.3% of Discover’s network total volume. Overall, DFS’ network volume is up 3% Y/Y to $83.0 billion.
In Q4/14 DFS processed 1.1 billion PULSE transactions, up 4% Y/Y, after peaking at 1.6 billion in the final quarter of 2013.
Discover also announced new corporate logo and acceptance mark for PULSE. The rebranding preserves many elements of PULSE’s original marks while also identifying the network more closely with its parent company, Discover Financial Service. The new logo and acceptance mark are more contemporary and feature the familiar Discover orange.
In recent years, PULSE has expanded beyond PIN debit to support the processing of the full range of cardholder verification methods (CVMs), including PINless Bill Pay, Internet PIN Debit, signature, no-signature and no-CVM transactions in both single- and dual-message environments. PULSE also has worked to advance new technologies such as mobile payments, EMV chip cards and tokenization.
An example of this evolution beyond PIN is PULSE’s recent expansion of PULSE PAY® Express, a PINless POS option originally launched in 2013 on a limited basis for debit transactions of $50 or less with no cash back option and available at only select merchants. In October 2014, PULSE PAY Express was expanded to include full support for all dollar amounts and merchant categories, including e-commerce.
PULSE PAY Express is a key part of the company’s strategy to champion choice and competition and to be the best network option for all debit transactions. It delivers superior net economics for both issuers and merchants. By including support for PINless and no CVM debit transactions, merchants and cardholders also benefit from faster checkout times at the POS.
PULSE participants may begin using the new acceptance mark on cards, signage and other materials immediately.
RAM Research estimates Discovers’ Payment Services dollar volume will top $79 billion in the first quarter.
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