The agreement is the latest effort by Discover Global Network to expand in
the Asia-Pacific region
RIVERWOODS, Ill. & SINGAPORE--(BUSINESS WIRE)--
Network for Electronic Transfers (NETS) and Discover Global Network have
launched their strategic agreement, signed in 2022, in an event with
executives from both companies. The agreement will expand the global
acceptance footprint for Discover Global Network cardholders within Singapore.
Discover Global Network cards include Discover®, Diners Club
International®, and Network Alliance cards.
(From left to right) Mr Lawrence Chan, Group CEO, NETS Mr Ricardo Leite,
Senior Vice President, Head of International Markets (Photo: Business Wire)
NETS is one of the key acquirers in Singapore with over 130,000 acceptance
points, and this agreement gives Discover Global Network cardholders the
ability to use their cards at Point-of-Sale (POS) across Singapore in segments
such as food and beverage, retail, convenience stores and supermarkets.
“This partnership is a natural step forward for NETS as we continue to
strengthen our one-stop offering for merchants. Our study confirms merchants
want to access a wide range of digital payment acceptance through a single
payment provider. NETS is grateful that we are now able to better achieve our
purpose of connecting communities, empowering lives by bringing more customers
who wish to use Discover to pay our merchants,” said Lawrence Chan, Group CEO
at NETS.
“Our strategic alliance with NETS in Singapore contributes to our rapid
expansion in the Asia-Pacific region,” said Chris Winter, managing director,
head of international markets, APAC at Discover. “We have seen increased
spending in the region from consumers around the world, and we want those
shoppers to be able to pay how they want.”
With 34 percent spend growth in the Asia-Pacific region for Discover Global
Network in 2023 alonei, Discover Global Network’s agreement with
NETS is the latest collaboration to bring more payment opportunities to
cardholders and more customers to merchants. In addition to Singapore, through
recent enablement with payments companies in Australia and China, Discover
Global Network cardholders can make payments at millions of accepting
merchants around the region.
About Discover
Discover Financial Services (NYSE: DFS) is a digital 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 personal loans, home loans,
checking and savings accounts and certificates of deposit through its banking
business. It operates the Discover Global Network® comprised of
Discover Network, with millions of merchants and cash access locations;
PULSE®, one of the nation's leading ATM/debit networks; and Diners
Club International®, a global payments network with acceptance
around the world. For more information, visit
www.discover.com/company.
i Discover Financial Services, Discover Financial Services data,
January 2024
Source: Discover Financial Services