Direct Payments Offered By Discover
Merchants will soon have the option to access payments directly from shoppers’ checking accounts using an app, with no card required. The newly announced capability is made possible by DCA member Discover and fintech firm Buy It Mobility Networks.
DCA Insight:
The direct payment arrangement Discover is introducing is popular in Asia: Alipay and WeChat Pay are big players. In the US, debit and credit cards still rule. Discover’s network includes 11.8 million merchants, many of which are anticipated to offer discounts to customers who pay by checking account. Look for gas station, grocery, pharmacy and fast-food chains to be early adopters.