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Discover to Increase Card Acceptance in Mexico Through Network Alliance with Prosa

September 13, 2018

RIVERWOODS, Ill. & MEXICO CITY--(BUSINESS WIRE)-- Discover Financial Services, a leading direct bank and payments services company, and Promoción y Operación S.A. de C.V. (Prosa), a leading payment solutions provider and domestic payments network in Mexico, signed an agreement to form a strategic network alliance to expand Discover® Global Network acceptance in Mexico. Discover, Diners Club International®, PULSE and network affiliate cards will now be accepted on Prosa’s network in Mexico at both point-of-sale and ATM locations.

The agreement will focus initially on enabling all Discover Global Network cards on the Prosa network. The companies also plan to look at future opportunities to work together on other products and services.

“This alliance will allow Prosa to continue to contribute to the growth of the payments industry in Mexico, by allowing the acceptance of Discover Global Network cards at additional points-of sale and ATM locations,” said Alejandro Morales, CEO for Prosa.

“I am pleased that through this alliance with Prosa, our cardholders will be able to use their cards at hundreds of thousands of additional merchants and thousands of ATMs throughout Mexico,” said Joe Hurley, senior vice president and head of global business development for Discover. “Mexico is a key destination for our cardholders and this relationship continues to help us meet our goal of allowing cardholders to use their cards of choice wherever they travel.”

The Discover Global Network includes Discover Network, Diners Club International, PULSE and affiliate networks. It has more than 42 million merchant acceptance locations and 2 million ATM cash access locations across 190 countries and territories. Discover has established network to network alliances across the globe, including relationships in China, Japan, Korea, India, Brazil, Turkey, Nigeria and throughout Europe.

About Promoción y Operación S.A. de C.V. (Prosa) and Carnet

Prosa processes more than 3.6 billion transactions annually at point of sale, ATMs, mobile devices and online. This accounts for more than 1.6 trillion Mexican pesos per year, making Prosa one of the biggest processors in Latin America. Prosa has been a strategic player to promote the development of financial and non-financial institutions in the payments industry in Mexico, as well as the other seven countries where it has presence. Prosa offers a portfolio of services and solutions with the highest world-class standards, which are accredited through certifications and recognitions that have been obtained throughout the past fifty years.

Prosa, through its acceptance brand CARNET, allows financial institutions that issue cards (credit, debit, vouchers, e-wallets, among others), access to the entire network of electronic transactions. These include point of sale terminals, ATMs, web commerce portals, among others. CARNET also gives simple and low-cost solutions that promote financial inclusion in Mexico in compliance with the existing regulation established by “Banco de México” and “La Comisión Nacional Bancaria y de Valores.”

For more information, visit www.prosamexico.mx

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 in 190 countries and territories. For more information, visit www.discover.com/company.

Marcela Saldarriaga Osorio
Prosa
+1 52 55 52681220
Marcela.saldarriaga@prosa.com.mx
@Prosa_Mx
or
Sarah Grage Silberman
Discover
+1-224-405-6029
sarahgragesilberman@discover.com
@Discover_News

Source: Discover Financial Services