Discover Financial Services Announces Global Alliance with Network International in the United Arab Emirates
06 Maggio 2013 - 2:00PM
Business Wire
Discover Financial Services (DFS) and Network International, a
leading payment solutions provider in the Middle East and promoter
of the newly launched Mercury domestic card network, today
announced a strategic alliance that will allow acceptance of
Mercury Network Cards on Discover, Diners Club International and
PULSE networks for international purchases and cash access outside
of U.A.E.
The long-term agreement will focus initially on enabling Mercury
Cards on the DFS networks, which include Discover Network, Diners
Club International, PULSE and other partner networks, to provide
acceptance in more than 185 countries and territories. The
companies also plan to look at future opportunities to partner on
other products and services.
Network International formally launched the Mercury Network
scheme on April 22, 2013, with the introduction of a pre-paid card
in the U.A.E. which will allow companies to remunerate employees
who do not have access to traditional banking services. The
agreement with Discover will allow Network International to support
credit and debit cards on a global basis, further adding to the
strength of the Mercury Network.
Discover and Network International also plan to collaborate on
the integration of Discover D-PAS EMV solutions and fraud
monitoring solutions to ensure safe transactions across both
networks.
“This alliance is another example of Discover’s flexibility,
unique positioning in the market and ability to support and
encourage domestic payment networks around the world,” said Diane
Offereins, EVP and President of Discover Payment Services. "By
partnering with regional payment networks such as Network
International, Discover is able to leverage its assets to grow
volume and increase brand awareness in places like the U.A.E., one
of the fastest growing economies in the world. We’re also providing
our partners with customized solutions to help them achieve global
reach and address localized preferences."
Discover has established network to network alliances across the
globe, including relationships in China, Japan, Korea, Serbia,
India, Puerto Rico, Nigeria and throughout Europe. These alliances
provide valuable access to Discover's global acceptance footprint
and deliver value and volume to merchants and partners.
“Our alliance with Discover is a significant milestone for
Network International and another major step in our strategic
payment network growth plan and expansion goals,” said Bhairav
Trivedi, CEO of Network International. "The new agreement with
Discover Financial Services provides our issuing members with new
options for ATM and POS access around the globe, while Mercury is
customizing our card network programs specifically to the needs of
our financial institution partners and their customers.”
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 home loans, private student loans, personal
loans, checking and savings accounts, certificates of deposit and
money market accounts through its direct banking business. 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
www.discoverfinancial.com.
About Network
International
Network International is one of the largest payment solution
providers in the Middle East region. Established in 1994, Network
International has grown to become the region’s most innovative
payment solution provider. Be it credit and debit card processing,
ATM management and monitoring, merchant acquiring or consumer
finance applications, Network International offers a range of
innovative products and services that can be tailored to customer
specific needs. In addition, Network International provides
consultancy services to plan, design and prepare any new card
product program. A principal member of both Visa International and
MasterCard International for the UAE, Network International is the
first independent vendor to be certified by both Visa and
MasterCard for card payments – a significant feat for any payment
solution provider in the Middle East. Network International
currently has operations in: Lebanon, Egypt, Kuwait, Oman, Africa,
UAE, Jordan. For more information, visit www.network.ae.
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