Agreement Will Boost Transaction Volume on the Discover, Diners
Club International(R) and PULSE Networks
RIVERWOODS, Ill., Jul 08, 2010 (BUSINESS WIRE) -- Discover Financial Services today announced an agreement with DinaCard,
the Serbian payment network, which will allow DinaCard cardholders to
use the Discover, Diners Club International and PULSE networks for
international purchases and cash access outside of Serbia by the end of
2010.
Another example of Discover's commitment to growing its global network,
this alliance will result in increased transaction volume on the
company's payment networks. DinaCard cardholders will have global access
to credit and cash withdrawals, with local volume remaining on the
DinaCard network.
"This agreement, made possible in partnership with our Diners Club(R)
Belgrade franchise, aligns with Discover's strategy to expand globally
by forming alliances with other payment networks," said Rajive Chada,
President of Diners Club International, a subsidiary of Discover. "All
parties clearly will benefit - Discover, Diners Club International and
PULSE will see increased volume on their global networks, while DinaCard
cardholders will be able to pay and withdraw cash globally for the first
time."
Founded in 2003, DinaCard is the system of national payment cards
operated by the National Payment Card Center, a division of the National
Bank of Serbia, Serbia's central bank. With 27local issuing
banks and 2.5 million cards, it is the largest acquiring network in the
country, owning 30% market share.
The recent lift on Serbia's international travel restrictions will allow
DinaCard cardholders to use their cards around the world. Cards will be
replaced on a renewal basis by participating issuing banks, with the
Discover, Diners Club International and PULSE identifiers placed on the
reverse side.
This alliance marks another milestone for Discover, which has entered
into strategic alliances with BC Card, China Union Pay and JCB over the
past several years. These alliances provide growth opportunities and
deliver value and volume to merchants and partners.
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
operates the Discover
card, America's cash rewards pioneer, and offers personal and
student loans, online savings accounts, certificates of deposit and
money market accounts through its Discover
Bank subsidiary. Its payment businesses consist 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 in more than 185 countries and
territories. For more information, visit http://www.discoverfinancial.com.
About Diners Club International
Diners Club International is owned by Discover Financial Services (NYSE:
DFS), a leading credit card issuer and electronic payment services
company. Established in 1950, Diners Club International became the first
multi-purpose charge card in the world, launching a financial revolution
in how consumers and companies pay for products and services. Today,
Diners Club is a globally recognized brand serving the payment needs of
select and affluent consumers as well as providing corporations and
small business owners with a complete array of expense management
solutions. With acceptance in more than 185 countries and territories,
millions of merchant locations and access to over 675,000 cash access
locations and ATMs, Diners Club is uniquely qualified to serve its
cardmembers all over the world. For more information, visit www.dinersclub.com.
About DinaCard
DinaCard is the national Serbian payment card accepted on over 60,000
merchant locations and close to 3,000 ATMs in Serbia. It is operated by
the Serbian central bank, the National Bank of Serbia and has all
Serbian banks as it member banks. For more information visit www.nbs.rs.
SOURCE: Discover Financial Services
Media Contact:
Mai Lee Ua
Discover Financial Services
224-405-3082
maileeua@discover.com
or
Sladjana Prijic-Sladic
National Bank of Serbia
+381 11 3027 206
press@nbs.rs