NEW YORK — Newtek Business Services, Inc. has entered into a merchant acquiring agreement with Discover Financial Services, a business unit of Morgan Stanley, to offer an integrated payment card processing package.
Under the terms of the agreement, Newtek Electronic Payment Processing, a subsidiary of Newtek, will offer small- to mid-sized businesses consolidated statements, combined settlement, and customer service. NEPP will have full responsibility for pricing, processing, settlement, risk management and customer service for the customer accounts, according to Newtek.
Newtek said it is one of the first business solutions providers to implement and market such an agreement with Discover. Newtek works with a number of credit unions, leagues and has a strategic partnership with CUNA.
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
