RIVERWOODS, Ill. & SÃO PAULO--(BUSINESS WIRE)--
Elo, the first 100% Brazilian card brand, conducted its first
international transaction today in the U.S. on the Discover Global
Network. This transaction marks the official acceptance of the Elo
Global Card in the U.S. Elo Global Cards are issued by Banco do Brasil,
Bradesco and Caixa Econômica Federal, and will be used for international
purchases and cash access outside of Brazil on the Discover Global
Network, which includes Discover Network, Diners Club International,
PULSE and affiliated networks.
The milestone first transaction was made by Elo president Eduardo
Chedid, and observed by Elo board members, Alexandre Rapaport of
Bradesco Bank, Mario Neto of Caixa Econômica Federal, Rogerio Panca of
Banco do Brasil S.A., and Discover’s president of payment services Diane
Offereins.
“Brazilians continue to increase their international travel and we are
excited to help them make purchases while traveling in the U.S. and
elsewhere throughout the world,” said Diane Offereins, president of
payment services for Discover. “We have worked with Elo to ensure those
with Elo Global Cards can enjoy the benefits of global acceptance on our
network while traveling outside of Brazil.”
“The possibility of using our new credit card outside of Brazil is very
important for customers with higher purchasing power, and therefore, we
are ready to meet the needs of such clients in a comprehensive way
through our partnership with Discover,” said Eduardo Chedid, president
of Elo.
Elo Global Cards were created to meet the demand of high-spend travelers
and online shoppers. Brazilians spent $17.3 billion in 2015 when
traveling outside of Brazil, with the US as one of their top destinations1.
Brazilian ecommerce cross border spend reached $18 billion in 2015, with
U.S. based companies accounting for 72 percent of those purchases, and
is expected to reach $25 billion by 20181.
The Discover Global Network is the third largest payments network in the
world2 and includes 38 million merchant acceptance locations
and over 1.9 million ATM cash access locations across 185 countries and
territories. The network includes alliance partnerships in China,
Europe, India, Japan, the Middle East, Puerto Rico, Serbia, South Korea
and Vietnam, among others.
About Elo
Elo is the first 100% Brazilian Credit Card flagship. Created in the
late 1960s, Elo returned to the market and was officially presented in
2011, result of the merger of the three largest banks in the country
(Banco do Brasil, Bradesco and CAIXA). Aiming to be a robust and
comprehensive brand, Elo offers a wide range of products and services
aimed at all audiences, in credit, debit, prepaid and benefits
categories. Accepted all over the country in over 2.4 million
establishments, Elo has approximately 95 million issued cards.
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 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.
1 US Travel and Tourism, Brazil Profile 2014
Euromonitor,
Paypers Cross Border Ecommerce in Brazil, 2015 and eMarketer.com, 2015
2 Retail Banking and Research, August 2015
View source version on businesswire.com: http://www.businesswire.com/news/home/20160726006363/en/
Source: Discover Financial Services