RIVERWOODS, Ill. & BUENOS AIRES, Argentina--(BUSINESS WIRE)--Discover Global Network, the payments brand of Discover, and Cabal, a local payments network in Argentina, have signed an agreement that will increase acceptance internationally for cards issued by both companies.
Cabal works with more than 3 million merchants across Argentina, Uruguay, Paraguay and Brazil, and will implement Discover Global Network technologies with their merchant partners to activate acceptance for Discover, Diners Club International and affiliate network cardholders when they are in these countries. Additionally, Cabal’s more than 7 million cardholders will have access to the Discover Global Network when traveling outside of the region.
“This agreement represents the opportunity for Cabal´s cardholders to operate in the global market,” said Gustavo Salerno, general manager at Cabal. “At the same time it allows us to incorporate the technologies, EMV and contactless, which place our brand in the highest international quality standards.”
“Cabal’s extensive presence in the region and aggressive growth plans in additional countries makes them an ideal partner as we look to grow acceptance in the area," said Ricardo Leite, senior vice president of international markets at Discover. “The agreement will dramatically increase the number of transactions that we will see on the Discover Global Network in these countries.”
The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 15 alliance partner networks across the globe, including relationships in China, Japan, Korea, India, Brazil, Turkey, and Nigeria. It has more than 44 million merchant acceptance locations and 2 million ATM cash access locations around the world.
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 around the world. For more information, visit www.discover.com/company.
Cabal is a processor and Payment Company with Argentine origin that has extended its activity to countries in the region, such as Uruguay, Paraguay and Brazil. Among its product offerings are credit, debit and prepaid cards, currently having more than 7,000,000 issued cards in the region that are accepted in 3,500,000 merchants in these countries.