InterPayments Appoints Former Discover Financial Services CEO and President, Roger Hochschild, to Its Board of Directors

Rhea-AI Summary

InterPayments, a leader in compliant managed surcharge solutions, has appointed Roger Hochschild, former CEO and president of Discover Financial Services (NYSE: DFS), to its board of directors. Hochschild brings over 35 years of payments expertise, including a 25-year tenure at Discover and experience as chief administrative and strategic officer at Morgan Stanley.

As Discover's CEO, Hochschild managed all operations and direct banking services, working extensively with merchants, software platforms, and payment processors. InterPayments positions itself as a 'payments facilitator' providing seamless compatibility with payment systems and offering the only surcharge service that indemnifies against state/provincial, federal, and card network noncompliance.

Positive

• Strategic appointment of former Discover Financial Services CEO brings 35 years of payment industry expertise
• Company's position strengthened as the only provider offering indemnification against regulatory non-compliance
• Established partnerships with Fortune 1000 merchants, top 20 banks, and major processors

Negative

• None.

SAN FRANCISCO--(BUSINESS WIRE)-- InterPayments, the leader in compliant managed surcharge solutions, today announced the appointment of former CEO and president of Discover Financial Services (NYSE: DFS), Roger Hochschild, to its board of directors. This strategic appointment underscores InterPayments’ mission to empower merchants to manage their cost of acceptance directly and through partnerships with US banks, payment processors, and software platforms.

“We are honored to welcome Roger and his unparalleled experience and insight of the fee recovery landscape he brings to the table,” said InterPayments CEO, Nagendra Jayanty. “He sees the need for a Managed Surcharge Provider that can tailor a fully compliant and automated surcharging program to equitably support businesses and their customers, card networks, and governments. Roger’s appointment validates businesses’ growing demand for managed surcharge solutions and InterPayments’ strong position to meet that need.”

Hochschild brings over 35 years of payments expertise to InterPayments, including serving as chief administrative and strategic officer at Morgan Stanley and a 25-year tenure at Discover. As Discover’s CEO and president, he was responsible for all operations and direct banking services, engaging extensively with merchants, software platforms, and payment processors about the growing demand for fee recovery solutions and the complex regulatory challenges that payment system participants face. Hochschild earned his undergraduate degree from Georgetown University and his MBA degree from Tuck School of Business at Dartmouth. He is also a member of the Principal Financial Group board of directors.

“For years, I’ve seen merchants and software platforms looking to manage their cost of payments acceptance. InterPayments stands out as a unique player whose mission truly aligns with its customers’ and partners’ success and is the only company providing a robust, compliant solution,” said Hochschild. “This is evidenced by its impressive client roster of Fortune 1000 merchants, top 20 banks, major processors, and software vendors. I could not be more excited to be joining the InterPayments team.”

InterPayments has distinguished itself as a “payments facilitator”—a guiding principle that guarantees seamless compatibility with any payment system and provider. InterPayments fully aligns its objectives with merchant and partner outcomes, ensuring genuine cost savings and compliance. InterPayments is the only surcharge service that indemnifies against state/provincial, federal, and card network noncompliance. As a Managed Surcharge Provider, InterPayments implements a holistic, end-to-end compliant surcharge program through both state-of-the-art technology and advisory services.

With Hochschild on the board, InterPayments will further strengthen its position as a fintech innovator and its unwavering commitment to providing fair and trustworthy services to all participants in the payments process.

For more information on InterPayments’ board of directors and to learn more about the company’s strategic surcharging initiatives, visit the InterPayments website.

About InterPayments
InterPayments is an independent Managed Surcharge Provider empowering compliant processing fee recovery for merchants, card networks, payment processors, software platforms, and major US banks. It contractually guarantees compliance with the 70+ jurisdictions that govern surcharging across the United States and Canada. InterPayments prevents, defends, and indemnifies surcharge noncompliance from state/provincial, federal, card network, and industry regulations. InterPayments implements fully compliant surcharge programs with agnostic, cloud-based technology and implementation services that work with any existing payment providers. Fortune 1000 merchants, top 20 banks, major processors, and software vendors trust InterPayments to recover processing fees without compliance risks. Learn more at www.interpayments.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250115153925/en/

Media

Tony Fontana

703-244-2079

tony@hencove.com

Source: InterPayments

FAQ

What experience does Roger Hochschild bring to InterPayments' board from his time at DFS?

Roger Hochschild brings over 35 years of payments expertise, including a 25-year tenure at Discover Financial Services where he served as CEO and president, managing all operations and direct banking services.

How does InterPayments differentiate itself in the payment surcharge market?

InterPayments is the only surcharge service provider that indemnifies against state/provincial, federal, and card network noncompliance, while offering seamless compatibility with any payment system as a payments facilitator.

What major clients does InterPayments currently serve?

InterPayments serves Fortune 1000 merchants, top 20 banks, major processors, and software vendors.

What are InterPayments' main services as a Managed Surcharge Provider?

InterPayments implements end-to-end compliant surcharge programs through state-of-the-art technology and advisory services, helping merchants manage their cost of acceptance.