For the first time since its launched its
business, Discover Financial Services is going to issue cards
outside of the US.
Discover has made an exclusive deal with
Diners Club Ecuador to issue and process cards in the Latin
American country. Discover will sub-license the card issuing rights
to local lender Banco Pichincha.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
Discover has already had a relationship with
Diners Club Ecuador and through that, has a 40% market share in
card sales. The expansion of their partnership is part of
Discover’s growth ambitions in Ecuador.
The cards will offer “a basic” version of
Discover’s loyalty scheme, Cashback Bonus and offer 1% cashback on
all purchases. Discover said loyalty schemes based on cashback were
still a novelty in Ecuador, but said that it would add new features
and products to the card portfolio “over time”.
“Discover clearly will benefit from the
success of the Diners Club Ecuador franchise, which is a dominant
force throughout the country,” said Diane Offereins, executive
vice-president and president of Discover Payment Services.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
