Thursday, October 25, 2007

Nobody uses Discover Card anymore

Upon quarterly review of my companies accounting, I have noticed that out of all higher dollar spending customers, nobody uses the Discover credit card to pay us. The last time a customer used Discover card was back in January 2007. And that was a $250 monthly recurring charge. That customer was the ONLY one paying with Discover card out of the XXXXX number of customers we have. In fact, even in the previous year (2006) that customer was still the only one paying by Discover card!

Luckily the cost of accepting discover card is virtually zero. They charge no ongoing fees for keeping an acount open (cough AMEX).

One of our other divisions has a large number of customers paying by Discover card. This division concentrates on services that are more targeted to smaller businesses and consumers in general. I would guess that either 1) Discover prefers to concentrate on consumer spending or 2) people in business dislike using Discover card.

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