Elo Extends Partnership with Discover to Launch Elo Diners Club International Cards in Brazil
November 21 2018 - 6:15AM
Business Wire
Diners Club International Card will help grow
consumer and corporate card portfolio for Elo
Elo, the 100% Brazilian payment brand, and Diners Club
International, a subsidiary of Discover Financial Services, and
part of the Discover Global Network, announced that they will
extend their partnership with the launch of Elo Diners Club
International Cards in Brazil. Elo, whose shareholders are Banco do
Brasil, Bradesco and Caixa Econômica Federal – extends its
partnership with Discover by adding the Diners Club brand to its
card portfolio in Brazil.
Diners Club Brazil cards, that are issued by Elo, will run on
the Discover Global Network, which includes acceptance at 42
million merchant locations and 2 million ATMs in more than 190
countries and territories. The two companies have worked together
since 2015 when they announced that Elo Global Cards would be able
to run on the Discover Global Network allowing Elo cardholders
international acceptance while traveling abroad. The first
transaction from this deal occurred in 2016 and since then Elo has
issued several million Elo Global Cards in the first two years.
“The expansion of our Discover partnership, with the resulting
launch of Elo Diners Club cards, is a strategic move to expand
Elo's presence among affluent consumers. It’s also a milestone in
this market: we are the first 100% Brazilian payment brand and are
now issuing Diners Club cards, the world’s first charge card,” says
Elo CEO Eduardo Chedid. The Brazilian brand was launched in 2011
and has issued 120 million cards.
“We continue to have a strong relationship with Elo that as a
result benefits cardholders,” said Diane Offereins, executive vice
president, president of payments services at Discover. “This next
evolution in our partnership will allow us to offer our Diners Club
benefits to more people in the country."
Diners Club has been present in Brazil for more than 50 years
and is a globally-recognized brand serving the payment needs of
select and affluent consumers. The new Diners Club Brazil cards
will offer a great option for international travelers.
The transition to Elo as the Diners Club International partner
in Brazil will bring many benefits to Diners Club Brazil
cardholders and Discover Global Network cardholders traveling to
the region. Any cardholder that receives the new Elo Diners Club
Brazil card issued by one of the member banks will have access to
more than 850 airport lounges worldwide, exclusive offers in
hotels, resorts, restaurants and shops in more than 50 countries,
as well as discounts on international car rentals. Elo will enhance
the Diners Club card benefits with their own set of compelling
features and benefits.
The Discover Global Network includes Discover Network, Diners
Club International, PULSE and affiliate networks. The network
includes alliance partnerships in China, Europe, India, Japan, the
Middle East, Mexico, Puerto Rico, Serbia, South Korea and Vietnam,
among others.
About Elo
Elo was launched in 2011 by three of Brazil's largest banks
(Banco do Brasil, Bradesco and CAIXA), and is the first 100%
Brazilian payment brand. In order to be a robust and comprehensive
brand, Elo offers a wide range of products and services aimed at
all audiences. Elo is accepted at 7.5 million establishments across
the country and is also the first domestic payment brand with
international acceptance. Through a partnership with the Discover
Global Network, the card can be used for purchases in 190 countries
and territories. Elo has approximately 120 million cards
issued.
About Diners Club International Ltd.
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, offering access
to more than 850 airport lounges worldwide, and providing
corporations and small business owners with a complete array of
expense management solutions. With acceptance in 190 countries and
territories, millions of merchant locations and access to more than
1 million cash access locations and ATMs, Diners Club, as a part of
the Discover Global Network, is uniquely qualified to serve its
cardmembers all over the world. Diners Club International is a
wholly owned subsidiary of Discover Financial Services (NYSE: DFS),
a direct banking and payment services company with one of the most
recognized brands in U.S. financial services. For more information,
visit www.dinersclub.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 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 in 190 countries and
territories. For more information, visit
www.discover.com/company.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181121005064/en/
Press contacts:FSB ComunicaçãoVivian Codogno – +55 (11)
3165-9666 / vivian.codogno@fsb.com.brKatia Hochman – +55 (11)
3165-9655 / katia.hochman@fsb.com.brRafael Faro – +55 (11)
3165-9693 / rafael.faro@fsb.com.brRobert WeissDiners
Club/Discover+1-224-405-6034robertweiss@discover.com@Discover_News
Discover Financial Servi... (NYSE:DFS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Discover Financial Servi... (NYSE:DFS)
Historical Stock Chart
From Apr 2023 to Apr 2024