Discover & BKM (Interbank Card Center of Turkey) Mark an Increase in Worldwide Card Acceptance with First Global Transaction ...
07 Novembre 2017 - 3:30PM
Business Wire
The recent purchase at Loewe in Marbella, Spain marked the start
of international acceptance for Troy Global Cards. BKM, Interbank
Card Center of Turkey, established Troy, the first and only Turkish
domestic card scheme, in April 2016. In June 2017, Discover and BKM
signed a strategic agreement to allow acceptance of Troy Global
Cards internationally on the Discover Global Network. The agreement
also provides acceptance for Discover and Diners Club International
cards as well as network alliance cards in Turkey through Troy
members.
Along with. Dr. Soner Canko, CEO of BKM and Diane Offereins EVP,
President of Payment Services at Discover, Mr. Meric Kaytanci, SVP
of Vakifbank and Mr. Serkan Ulgen, EVP of Yapi Kredi were all
present at Loewe to conduct transactions with their respective
banks’ Troy Global Cards. These transactions represented the first
Troy Global Cards to complete a purchase on the Discover Global
Network.
BKM, owned by 10 Turkish banks, processes payments for the
Turkish market. BKM’s unique position in the market will result in
increased acceptance for Discover. Previously, BKM and Discover
collaborated on the integration of D-PAS, Discover’s EMV solution,
into the Troy Network as a white label solution. Discover will now
also provide Troy’s members with a centralized processing solution
to efficiently authorize international transactions.
Popular travel destinations for Turkish travelers include places
where Discover Global Network has strong acceptance and there is an
expected 27 percent increase in international travel by tourists
from Turkey by 20201.
“Turkey is an active travel market and we are excited to work
with BKM to provide global acceptance for their Troy Network and
their issuing partners as well as providing increased acceptance
for current Discover Global Network cardholders when visiting
Turkey,” said Joe Hurley, senior vice president of global business
development, Discover Global Network. “This agreement with BKM
complements Discover’s strategy of creating worldwide alliances
that provide consumers with more choice when it comes to how they
pay.”
“With nearly 190 million cards in circulation, 2.4 million POS
terminals, and 50,000 ATMs, Turkey is the largest card payment
market in Europe. The sector is well-developed and has been the
pioneer of innovation in global payments arena. Launched in April
2016, Troy has achieved great results in a very short time. Fully
accepted at all payments points in Turkey and 16 members already
issuing Troy cards, Troy has almost reached the 1 million mark in
card numbers. In partnership with Discover, Troy will now also be
accepted internationally. This strategic alliance with Discover
reinforces BKM's continuous efforts to diversify its card-payment
services for our members and promote Turkey's card-payment market
development,” said Dr. Soner Canko, CEO of BKM. “We strongly
believe that TROY will strengthen our ability to develop innovative
solutions aligned with the needs of the Turkish market and to bring
these solutions to market in a fast and cost-effective way. With
this belief, we as Troy have established an innovation center to
spearhead the development of new solutions and products. The
alliance with Discover will also help Troy in providing its members
with the opportunity to use Discover’s innovative payment
products.”
Discover Global Network has over 41 million merchant acceptance
locations and 1.9 million ATM and cash access locations across 185
countries and territories. Discover Global Network includes
Discover, Diners Club International, PULSE and affiliated networks.
It also includes network relationships with partners around the
globe in Brazil, China, India, Japan, the Middle East, Nigeria,
Puerto Rico, Serbia, South Korea, Vietnam, and throughout
Europe.
About BKM and Troy
The Interbank Card Center (BKM) was established in 1990 with the
partnership of 13 public and private Turkish banks for the purpose
of providing processing solutions and developing the rules and
standards of payments for debit, credit, and prepaid cards in
Turkey. BKM, with 28 Banks and 2 Non-Bank Institutions as members,
is the domestic payment services provider to all Turkish Issuers
& Acquirers.
BKM established Troy, the first and only Turkish domestic card
scheme, in April 2016 to provide customized solutions for Turkish
market needs, with an aim to reduce cash usage with increased
financial inclusion.
Troy’s members have already enabled Troy cards domestically with
acceptance throughout the national territory at all POS terminals,
ATMs, and e-commerce merchants.
For more information, visit: http://bkm.com.tr/en/ and
https://troyodeme.com/
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, certificates of
deposit and money market accounts 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.
1Flows in Turkey, Euromonitor 2016
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