US card processor Discover announced an
agreement with DinaCard, the Serbian payment network, which will
allow DinaCard cardholders to use the Discover, Diners Club
International and PULSE networks for international purchases and
cash access outside of Serbia by the end of 2010.
“All parties clearly will benefit – Discover,
Diners Club International and PULSE will see increased volume on
their global networks, while DinaCard cardholders will be able to
pay and withdraw cash globally for the first time.”
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The alliance will result in increased
transaction volume on Discover’s payment networks while DinaCard
cardholders will have global access to credit and cash withdrawals,
with local volume remaining on the DinaCard network.
“This agreement, made possible in partnership
with our Diners Club Belgrade franchise, aligns with Discover’s
strategy to expand globally by forming alliances with other payment
networks,” said Rajive Chada, President of Diners Club
International, a subsidiary of Discover. “All parties clearly will
benefit – Discover, Diners Club International and PULSE will see
increased volume on their global networks, while DinaCard
cardholders will be able to pay and withdraw cash globally for the
first time.”
Founded in 2003, DinaCard is the system of
national payment cards operated by the National Payment Card
Center, a division of the National Bank of Serbia, Serbia’s central
bank. With 27 local issuing banks and 2.5 million cards, it is
the largest acquiring network in the country, owning 30 percent
market share.
The recent lift on Serbia’s international
travel restrictions will allow DinaCard cardholders to use their
cards around the world. Cards will be replaced on a renewal basis
by participating issuing banks, with the Discover, Diners Club
International and PULSE identifiers placed on the reverse side.
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