RIVERWOODS, Ill. & SAO PAOLO--(BUSINESS WIRE)--Aug. 20, 2015--
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.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150820005639/en/
Source: Discover Financial Services
Elo
FSB Comunicação
Priscilla Natale, +55 (11) 3165-9657
priscilla.natale@fsb.com.br
Leonardo
Corrêa, +55 (11) 3165-9595
leonardo.correa@fsb.com.br
Rafael
Faro, +55 (11) 3165-9693
rafael.faro@fsb.com.br
or
Discover/Diners
Club International
Abbe Kalina, +1-224-405-5175
abbekalina@discover.com