Discover Financial Services Announces International Alliance with Serbia’s DinaCard
08 Luglio 2010 - 3:00PM
Business Wire
Discover Financial Services today announced an agreement with
DinaCard, the Serbian payment network, which will allow DinaCard
cardholders to use the Discover, Diners Club International and
PULSE networks for international purchases and cash access outside
of Serbia by the end of 2010.
Another example of Discover’s commitment to growing its global
network, this alliance will result in increased transaction volume
on the company’s payment networks. DinaCard cardholders will have
global access to credit and cash withdrawals, with local volume
remaining on the DinaCard network.
“This agreement, made possible in partnership with our Diners
Club® Belgrade franchise, aligns with Discover’s strategy to expand
globally by forming alliances with other payment networks,” said
Rajive Chada, President of Diners Club International, a subsidiary
of Discover. “All parties clearly will benefit – Discover, Diners
Club International and PULSE will see increased volume on their
global networks, while DinaCard cardholders will be able to pay and
withdraw cash globally for the first time.”
Founded in 2003, DinaCard is the system of national payment
cards operated by the National Payment Card Center, a division of
the National Bank of Serbia, Serbia’s central bank. With 27 local
issuing banks and 2.5 million cards, it is the largest acquiring
network in the country, owning 30% market share.
The recent lift on Serbia’s international travel restrictions
will allow DinaCard cardholders to use their cards around the
world. Cards will be replaced on a renewal basis by participating
issuing banks, with the Discover, Diners Club International and
PULSE identifiers placed on the reverse side.
This alliance marks another milestone for Discover, which has
entered into strategic alliances with BC Card, China Union Pay and
JCB over the past several years. These alliances provide growth
opportunities and deliver value and volume to merchants and
partners.
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 personal and student loans, online savings
accounts, certificates of deposit and money market accounts through
its Discover Bank subsidiary. 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 http://www.discoverfinancial.com.
About Diners Club International
Diners Club International is owned by Discover Financial
Services (NYSE: DFS), a leading credit card issuer and electronic
payment services company. Established in 1950, Diners Club
International became the first multi-purpose charge card in the
world, launching a financial revolution in how consumers and
companies pay for products and services. Today, Diners Club is a
globally recognized brand serving the payment needs of select and
affluent consumers as well as providing corporations and small
business owners with a complete array of expense management
solutions. With acceptance in more than 185 countries and
territories, millions of merchant locations and access to over
675,000 cash access locations and ATMs, Diners Club is uniquely
qualified to serve its cardmembers all over the world. For more
information, visit www.dinersclub.com.
About DinaCard
DinaCard is the national Serbian payment card accepted on over
60,000 merchant locations and close to 3,000 ATMs in Serbia. It is
operated by the Serbian central bank, the National Bank of Serbia
and has all Serbian banks as it member banks. For more information
visit www.nbs.rs.
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