Discover Financial Services has signed an agreement with Brazilian credit card brand Elo to enable acceptance of Elo Global Cards for international purchases and cash access outside Brazil on the Discover Global Network.
The card brand, which was set up by three Brazilian lenders namely Banco do Brasil, Bradesco and Caixa, will now be accepted on Discover Network, Diners Club International and the PULSE network.
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The deal will initially focus on allowing Elo Global Cards get acceptance in over 185 countries and territories through Discover Global Network.
The two entities also plan to join forces for the integration of D-PAS, Discover’s EMV solution, as well as collaborate on new emerging payment products later on.
For domestic transactions, Elo will continue to use its own proprietary application.
Elo CEO Eduardo Chedid said: "The investment in innovation and the development of solutions for our customers has always been among our priorities. With international acceptance, we will offer a complete payment experience.
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By GlobalData"The cardholder who travels, whether for business or pleasure, will be able to make secure transactions in another country, with the same peace of mind they have for domestic transactions."
