Discover Announces Alliance with Malaysia’s PayNet to Expand Worldwide Acceptance
22 Marzo 2021 - 12:00PM
Business Wire
Discover, a leading digital bank and payments company, and
Payments Network Malaysia Sdn Bhd (PayNet), the national payments
network and shared central infrastructure for payment services in
Malaysia, have signed an agreement that will greatly expand
acceptance for Discover, Diners Club International and network
alliance cardholders in Malaysia.
The agreement complements Discover’s strategy of growing
acceptance in Asia Pacific to support existing partners in
countries such as Singapore, India, China and Japan by potentially
opening acceptance at 10,000 ATM locations and more than 570,000
point-of-sale terminals throughout Malaysia. Discover has seen
continued acceptance growth in the Asia Pacific region over the
past few years with recent partnerships in China, Taiwan, Hong
Kong, Cambodia, Vietnam and New Zealand, adding to multiple already
established relationships. This resulted in acceptance in the
region growing 14 percent in 2020.
“Working with PayNet was key to opening the Malaysian market to
our partners around the globe,” said Ricardo Leite, senior vice
president of international markets at Discover. “Discover will
continue to work with payment providers in the region in an effort
to provide more seamless payment interactions for customers when
travel is necessary.”
“PayNet sees many exciting opportunities for both parties with
this partnership. It fits well with PayNet’s efforts to provide
opportunity to our member banks to expand their reach by connecting
to the Discover Global Network, and Malaysian businesses to
increase sales opportunities by facilitating payments by Discover’s
global cardmember base visiting Malaysia,” said Peter Schiesser,
Group CEO at PayNet.
Discover Global Network has more than 50 million merchant
acceptance locations and 2 million ATM and cash access locations
around the world. The Discover Global Network includes Discover
Network, Diners Club International, PULSE and more than 20 alliance
partner networks across the globe.
About PayNet
Payments Network Malaysia Sdn Bhd (PayNet) is the national
payments network and shared central infrastructure for Malaysia’s
financial markets. As the national provider of financial market
utilities, PayNet aims to build inclusive, accessible and efficient
payments and financial eco-systems for Malaysia. In line with this
developmental objective, PayNet’s shareholders do not receive
dividends, and surplus profits are instead re-invested to ensure
that the nation’s financial market infrastructures and payment
eco-systems are resilient, competitive and accessible to all.
PayNet operates a number of e-payment products and services. Among
them is the interbank shared ATM network interconnecting over
10,000 ATMs throughout Malaysia. For more information, visit
www.paynet.my
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 private student loans, 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 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 around the world. For more
information, visit www.discover.com/company
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version on businesswire.com: https://www.businesswire.com/news/home/20210322005099/en/
PayNet – Amy Pang amy@paynet.my +603 2264 8689
Discover – Sarah Grage Silberman
sarahgragesilberman@discover.com +1-224-405-6029 @Discover_News
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