Discover and NAPAS Announce Deal to Increase Global Footprint and Acceptance
20 Dicembre 2017 - 4:00PM
Business Wire
DFS Services LLC, a wholly owned subsidiary of Discover
Financial Services, a leading direct bank and payments services
company, and National Payments Corporation of Vietnam (NAPAS), the
domestic payment network in Vietnam, today signed an agreement to
form a strategic alliance. The deal will allow acceptance of NAPAS
Global Cards outside of Vietnam on the Discover Global Network,
which includes Discover Network, Diners Club International and
PULSE. The agreement also opens acceptance for Discover, Diners
Club and affiliate network cards on NAPAS network in Vietnam.
The Discover Global Network includes 42 million merchant
acceptance locations and over 1.9 million ATM cash access locations
across 185 countries and territories. The network includes alliance
partnerships in China, Europe, India, Japan, the Middle East,
Puerto Rico, Serbia, South Korea and Turkey, among others.
NAPAS, owned by the State Bank of Vietnam and major banks in
Vietnam, operates and manages an inter-bank connection system for
its 46 member banks in Vietnam. This strategic alliance will expand
its card payment services and gain global acceptance while
maintaining its newly established NAPAS card brand.
The agreement also allows for the member banks to begin issuing
NAPAS Global Cards as part of Discover’s Global card program. The
cards will be issued by NAPAS and run on their network
domestically, while Discover Global Network will be enabling global
acceptance for the card.
Vietnam has a growing economy with an increasing level of
disposable income. In 2017, Vietnam saw 7.3 million international
outbound tourists, the majority of which were traveling for leisure
and personal purposes. Tourism in Vietnam is also growing as its
inbound visitors hit 9.7 million this year.1
“This alliance with NAPAS demonstrates our commitment to
continuing to leverage our payment infrastructure to achieve
increased global acceptance for both Discover Global Network and
domestic networks like NAPAS,” said Joe Hurley, senior vice
president and head of global business development for Discover.
“The agreement complements our strategy of creating worldwide
alliances that provide consumers with more choice in payments on a
global scale.”
About NAPAS
The National Payment Corporation of Vietnam (NAPAS) was
established in 2004 and renamed from the Vietnam National Financial
Switching Joint Stock Company (Banknetvn) as from 04/02/2016 on the
basis of merging and acquisition with the Smartlink Card Services
Joint Stock Company with an aim to build up a unified card
switching center under the direction of the Prime Minister and the
State Bank of Vietnam.
As having developed and completed the national retail payment
infrastructure, NAPAS has been licensed by the State Bank to
provide financial switching services and electronic clearing
services in Vietnam. The largest shareholder of NAPAS is the State
Bank of Vietnam, which accounts for 49% of the charter capital of
the corporation.
NAPAS is currently administering and operating a switching
system interconnected more than 17,000 ATMs, 270,000 POS machines,
and 300 electronic payment companies in the fields of aviation,
telecommunication, hotel industry and tourism, and serving over 100
million cardholders of 46 domestic and international commercial
banks operating in Vietnam.
About Discover Global Network
Discover Global Network, the global payments brand of Discover
Financial Services, processes millions of cardholder transactions
each day. With industry expertise, innovative technology and a
closed-loop infrastructure, Discover Global Network provides
effective, customized solutions that evolve as needs change.
Discover Global Network has alliances with more than 10 payments
networks around the world, and is led by three Discover businesses:
Discover network, with millions of retail 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.discovernetwork.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 and certificates of
deposit 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20171220005215/en/
NAPASMs. Duong NguyenEmail: duongnh@napas.com.vnPhone
number: +84 243 936 1818 (ext 146)orDiscover/Diners Club
InternationalSarah Grage
Silbermansarahgragesilberman@discover.com+1-224-405-6029@Discover_News
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