Discover Announces Strategic Network Service Agreement with Brazilian Domestic Card Network, Elo
20 August 2015 - 11:30PM
Business Wire
Discover Financial Services and Elo, the largest Brazilian
credit card brand, today announced a strategic agreement that will
allow acceptance of Elo Global Cards for international purchases
and cash access outside of Brazil on the Discover Global Network,
which includes Discover Network, Diners Club International and the
PULSE network.
The agreement will focus initially on enabling Elo Global Cards
to have acceptance in more than 185 countries and territories via
the Discover Global Network, the third-largest payments network in
the world. Elo and Discover also will collaborate on the
integration of Discover’s EMV solution, D-PAS, to help ensure safe
international transactions and continue to work together on new
emerging payment products in the future. Elo will continue to use
its own proprietary application for domestic transactions.
“Discover has a long-standing history of leveraging its unique
payments infrastructure to create mutually beneficial relationships
around the globe,” said Joe Hurley, Senior Vice President Global
Business Development, Discover Network. “Striking an agreement with
Elo offers great benefits to both companies, most importantly, Elo
Global cardholders will have the ability to use their card of
choice when traveling abroad.”
Discover’s expansive global network includes relationships with
partners around the globe including alliance arrangements in China,
India, Japan, the Middle East, Puerto Rico, Serbia, South Korea,
Vietnam, Europe and others.
“The investment in innovation and the development of solutions
for our customers has always been among our priorities. With
international acceptance, we will offer a complete payment
experience. The cardholder who travels, whether for business or
pleasure, will be able to make secure transactions in another
country, with the same peace of mind they have for domestic
transactions,” said Eduardo Chedid, CEO of Elo.
Elo was founded by three of Brazil’s top banks: Banco do Brasil,
Bradesco and Caixa.
About Elo
Elo is the first credit card brand 100 percent Brazilian. The
company was officially launched in 2011 and is the result of a
partnership of three of largest banks in the country (Banco do
Brasil, Bradesco and Caixa). In order to be a robust and
comprehensive brand, Elo offers a wide variety of products and
services intended for all audiences, in credit, debit, prepaid and
benefits.
Elo has already issued more than 80 million cards and is
accepted throughout the national territory, in more than 1.65
million establishments.
About Discover
Discover Financial Services (NYSE: DFS) is a direct banking and
payment services company with one of the most recognized brands in
U.S. financial services. Since its inception in 1986, the company
has become one of the largest card issuers in the United States.
The company issues the Discover card, America's cash rewards
pioneer, and offers private student loans, personal loans, home
equity loans, checking and savings accounts, certificates of
deposit and money market accounts through its direct banking
business. It operates the Discover Network, with millions of
merchant and cash access locations; PULSE, one of the nation's
leading ATM/debit networks; and Diners Club International, a global
payments network with acceptance in more than 185 countries and
territories. For more information, visit:
www.discover.com/company.
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version on businesswire.com: http://www.businesswire.com/news/home/20150820005639/en/
EloFSB ComunicaçãoPriscilla Natale, +55 (11)
3165-9657priscilla.natale@fsb.com.brLeonardo Corrêa, +55 (11)
3165-9595leonardo.correa@fsb.com.brRafael Faro, +55 (11)
3165-9693rafael.faro@fsb.com.brorDiscover/Diners Club
InternationalAbbe Kalina,
+1-224-405-5175abbekalina@discover.com
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