Discover Financial Services said Monday that it has extended its network agreement with Wal-Mart Stores Inc. through 2015.
Discover, of Riverwoods, Ill., has handled transactions for the Wal-Mart Discover card since early 2005. The cards, which are treated as a private label card when used at Wal-Mart stores and as Discover cards elsewhere, are issued by General Electric Co.'s GE Money Bank.
"Our relationship with Discover is important to the success of our Wal-Mart network-branded consumer card program," Jane Thompson, the president of Wal-Mart Financial Services, said in a press release.
Before offering a Discover card, Wal-Mart offered a MasterCard Inc. card issued by JPMorgan Chase & Co., but that deal ended before the Discover deal was announced.