Desjardins Group becomes the first traditional Canadian financial institution to offer merchants an integrated service for MasterCard(R) and Visa(R) payment transaction processing



    Merchants can now deal with a single financial institution and
    enjoy the benefits of an integrated solution

    MONTREAL, April 18 /CNW Telbec/ - 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(R) payment solutions to
merchants.
    As a result of this agreement, Desjardins is now the first traditional
Canadian financial institution that offers merchants an integrated
MasterCard(R) and Visa(R) service with ensuing benefits which include:
same-day MasterCard and Visa(R) deposits, a single account statement for
MasterCard(R) and Visa(R) 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(R) as well as Visa(R) 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.

    About Desjardins Card Services

    Desjardins Card Services is a business unit of Desjardins Group, Canada's
largest integrated cooperative financial group, with assets of more than   
$135 billion as at December 31, 2006. In addition to being the leading payment
solutions provider in Québec as well as a major player in Canada, Desjardins
Card Services is recognized for the quality of its service and offers a
diverse range of products and services that are tailored to merchants' needs,
such as: loyalty programs, the Accord D Desjardins financing program, as well
as online debit and credit transaction processing, integrated point-of-sale
solutions and point-of-sale terminals. More than 55,000 merchants throughout
Canada--including more than 5,000 offering Accord D Desjardins financing--have
chosen Desjardins Card Services as their provider of point-of-sale transaction
management solutions.

    About GE Money

    With more than $163 billion in assets, GE Money, a unit of General
Electric Company, is a leading provider of credit services to consumers,
retailers and auto dealers in 50 countries around the world. Based in
Mississauga, Ontario, GE Money Canada provides private label credit card and
MasterCard programs to consumers, and lending options for retailers in key
industries across the country. GE Money also is a provider of alternative
residential mortgages. More information can be found at www.gemoney.ca.

    In Canada, GE has more than 10,000 employees, 19 major manufacturing
plants and more than 150 sales and service locations across the country.




For further information:

For further information: (for journalists only): André Chapleau,
Director, Information and Media Relations, Desjardins Group, (514) 281-7229,
1-866-866-7000, extension 7229, andre.chapleau@desjardins.com


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