Agreement will boost transaction volume on and acceptance of Mercury
Cards across the Discover global network
RIVERWOODS, Ill. & DUBAI, United Arab Emirates--(BUSINESS WIRE)--May. 6, 2013--
Discover Financial Services (DFS) and Network International, a leading
payment solutions provider in the Middle East and promoter of the newly
launched Mercury domestic card network, today announced a strategic
alliance that will allow acceptance of Mercury Network Cards on
Discover, Diners Club International and PULSE networks for international
purchases and cash access outside of U.A.E.
The long-term agreement will focus initially on enabling Mercury Cards
on the DFS networks, which include Discover Network, Diners Club
International, PULSE and other partner networks, to provide acceptance
in more than 185 countries and territories. The companies also plan to
look at future opportunities to partner on other products and services.
Network International formally launched the Mercury Network scheme on
April 22, 2013, with the introduction of a pre-paid card in the U.A.E.
which will allow companies to remunerate employees who do not have
access to traditional banking services. The agreement with Discover will
allow Network International to support credit and debit cards on a
global basis, further adding to the strength of the Mercury Network.
Discover and Network International also plan to collaborate on the
integration of Discover D-PAS EMV solutions and fraud monitoring
solutions to ensure safe transactions across both networks.
“This alliance is another example of Discover’s flexibility, unique
positioning in the market and ability to support and encourage domestic
payment networks around the world,” said Diane Offereins, EVP and
President of Discover Payment Services. "By partnering with regional
payment networks such as Network International, Discover is able to
leverage its assets to grow volume and increase brand awareness in
places like the U.A.E., one of the fastest growing economies in the
world. We’re also providing our partners with customized solutions to
help them achieve global reach and address localized preferences."
Discover has established network to network alliances across the globe,
including relationships in China, Japan, Korea, Serbia, India, Puerto
Rico, Nigeria and throughout Europe. These alliances provide valuable
access to Discover's global acceptance footprint and deliver value and
volume to merchants and partners.
“Our alliance with Discover is a significant milestone for Network
International and another major step in our strategic payment network
growth plan and expansion goals,” said Bhairav Trivedi, CEO of Network
International. "The new agreement with Discover Financial Services
provides our issuing members with new options for ATM and POS access
around the globe, while Mercury is customizing our card network programs
specifically to the needs of our financial institution partners and
their customers.”
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 home loans, private
student loans, personal loans, checking and savings accounts,
certificates of deposit and money market accounts through its direct
banking business. 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 www.discoverfinancial.com.
About Network International
Network International is one of the largest payment solution providers
in the Middle East region. Established in 1994, Network International
has grown to become the region’s most innovative payment solution
provider. Be it credit and debit card processing, ATM management and
monitoring, merchant acquiring or consumer finance applications, Network
International offers a range of innovative products and services that
can be tailored to customer specific needs. In addition, Network
International provides consultancy services to plan, design and prepare
any new card product program. A principal member of both Visa
International and MasterCard International for the UAE, Network
International is the first independent vendor to be certified by both
Visa and MasterCard for card payments – a significant feat for any
payment solution provider in the Middle East. Network International
currently has operations in: Lebanon, Egypt, Kuwait, Oman, Africa, UAE,
Jordan. For more information, visit www.network.ae.
Source: Discover Financial Services
Media Contact:
Discover Financial Services
Laura Gingiss
224-405-0185
lauragingiss@discover.com