Elo and Discover Mark First Transaction, Opening Discover Global Network to Brazilian Travelers
July 26 2016 - 3:00PM
Business Wire
Elo, the first 100% Brazilian card brand, conducted its first
international transaction today in the U.S. on the Discover Global
Network. This transaction marks the official acceptance of the Elo
Global Card in the U.S. Elo Global Cards are issued by Banco do
Brasil, Bradesco and Caixa Econômica Federal, and will be used for
international purchases and cash access outside of Brazil on the
Discover Global Network, which includes Discover Network, Diners
Club International, PULSE and affiliated networks.
The milestone first transaction was made by Elo president
Eduardo Chedid, and observed by Elo board members, Alexandre
Rapaport of Bradesco Bank, Mario Neto of Caixa Econômica Federal,
Rogerio Panca of Banco do Brasil S.A., and Discover’s president of
payment services Diane Offereins.
“Brazilians continue to increase their international travel and
we are excited to help them make purchases while traveling in the
U.S. and elsewhere throughout the world,” said Diane Offereins,
president of payment services for Discover. “We have worked with
Elo to ensure those with Elo Global Cards can enjoy the benefits of
global acceptance on our network while traveling outside of
Brazil.”
“The possibility of using our new credit card outside of Brazil
is very important for customers with higher purchasing power, and
therefore, we are ready to meet the needs of such clients in a
comprehensive way through our partnership with Discover,” said
Eduardo Chedid, president of Elo.
Elo Global Cards were created to meet the demand of high-spend
travelers and online shoppers. Brazilians spent $17.3 billion in
2015 when traveling outside of Brazil, with the US as one of their
top destinations1. Brazilian ecommerce cross border spend reached
$18 billion in 2015, with U.S. based companies accounting for 72
percent of those purchases, and is expected to reach $25 billion by
20181.
The Discover Global Network is the third largest payments
network in the world2 and includes 38 million merchant acceptance
locations and over 1.9 million ATM cash access locations across 185
countries and territories. The network includes alliance
partnerships in China, Europe, India, Japan, the Middle East,
Puerto Rico, Serbia, South Korea and Vietnam, among others.
About Elo
Elo is the first 100% Brazilian Credit Card flagship. Created in
the late 1960s, Elo returned to the market and was officially
presented in 2011, result of the merger of the three largest banks
in the country (Banco do Brasil, Bradesco and CAIXA). Aiming to be
a robust and comprehensive brand, Elo offers a wide range of
products and services aimed at all audiences, in credit, debit,
prepaid and benefits categories. Accepted all over the country in
over 2.4 million establishments, Elo has approximately 95 million
issued cards.
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 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 more than 185 countries and territories. For more
information, visit www.discover.com/company.
1 US Travel and Tourism, Brazil Profile 2014Euromonitor, Paypers
Cross Border Ecommerce in Brazil, 2015 and eMarketer.com, 2015
2 Retail Banking and Research, August 2015
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version on businesswire.com: http://www.businesswire.com/news/home/20160726006363/en/
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