Discover Global Network and Cabal Cooperativa De Provision De Servicios Limitada Sign Network Agreement
23 November 2019 - 2:00AM
Business Wire
Discover Global Network, the payments brand of Discover, and
Cabal, a local payments network in Argentina, have signed an
agreement that will increase acceptance internationally for cards
issued by both companies.
Cabal works with more than 3 million merchants across Argentina,
Uruguay, Paraguay and Brazil, and will implement Discover Global
Network technologies with their merchant partners to activate
acceptance for Discover, Diners Club International and affiliate
network cardholders when they are in these countries. Additionally,
Cabal’s more than 7 million cardholders will have access to the
Discover Global Network when traveling outside of the region.
“This agreement represents the opportunity for Cabal´s
cardholders to operate in the global market,” said Gustavo Salerno,
general manager at Cabal. “At the same time it allows us to
incorporate the technologies, EMV and contactless, which place our
brand in the highest international quality standards.”
“Cabal’s extensive presence in the region and aggressive growth
plans in additional countries makes them an ideal partner as we
look to grow acceptance in the area," said Ricardo Leite, senior
vice president of international markets at Discover. “The agreement
will dramatically increase the number of transactions that we will
see on the Discover Global Network in these countries.”
The Discover Global Network includes Discover Network, Diners
Club International, PULSE and more than 15 alliance partner
networks across the globe, including relationships in China, Japan,
Korea, India, Brazil, Turkey, and Nigeria. It has more than 44
million merchant acceptance locations and 2 million ATM cash access
locations around the world.
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 and certificates of
deposit through its direct banking business. It operates the
Discover Global Network comprised of 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 around the world. For
more information, visit www.discover.com/company.
About Cabal
Cabal is a processor and Payment Company with Argentine origin
that has extended its activity to countries in the region, such as
Uruguay, Paraguay and Brazil. Among its product offerings are
credit, debit and prepaid cards, currently having more than
7,000,000 issued cards in the region that are accepted in 3,500,000
merchants in these countries.
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version on businesswire.com: https://www.businesswire.com/news/home/20191122005025/en/
Media Contacts Sarah Grage Silberman Discover
+1-224-405-6029 sarahgragesilberman@discover.com @Discover_News
Fabiana Diez Beltrán Cabal +54 11 4891 2612
fdiezbeltran@cabal.coop
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