Desjardins offers integrated MasterCard and Visa transaction processing
Desjardins Group, Canada's largest integrated cooperative financial group, has announced the signing of an agreement between its Desjardins Card Services (DCS) business unit and GE Money, the Canadian consumer-lending unit of the General Electric Company (NYSE: GE) that enables DCS to supply MasterCard payment solutions to merchants.
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As a result of this agreement, Desjardins is now the first traditional Canadian financial institution that offers merchants an integrated MasterCard and Visa service with ensuing benefits which include: same-day MasterCard and Visa deposits, a single account statement for MasterCard and Visa services, debit card and point-of-sale terminal transactions, faster processing of merchant enrolment applications and one-stop customer service.
"Our capacity to process MasterCard as well as Visa transactions at the point of sale is aimed at consolidating our leading position in Canada's payment solutions sector. Our service offering will be more comprehensive to meet the changing needs of merchants in Québec and across Canada," explains Jean Yelle, Vice-President, Desjardins Card Services.