DISCOVER FINANCIAL SERVICES ANNOUNCES INTERNATIONAL ALLIANCE WITH SERBIA’S DINACARD
Agreement will boost transaction volume on the Discover, Diners Club International® and PULSE networks
Riverwoods, IL, July 8, 2010 – Discover Financial Services today 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.Another example of Discover’s commitment to growing its global network, this alliance will result in increased transaction volume on the company’s payment networks. DinaCard cardholders will have global access to credit and cash withdrawals, with local volume remaining on the DinaCard network.
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% 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.
This alliance marks another milestone for Discover, which has entered into strategic alliances with BC Card, China Union Pay and JCB over the past several years. These alliances provide growth opportunities and deliver value and volume to merchants and partners.
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 operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist 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 in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.
About Diners Club International:
Diners Club International is owned by Discover Financial Services (NYSE: DFS), a leading credit card issuer and electronic payment services company. Established in 1950, Diners Club International became the first multi-purpose charge card in the world, launching a financial revolution in how consumers and companies pay for products and services. Today, Diners Club is a globally recognized brand serving the payment needs of select and affluent consumers as well as providing corporations and small business owners with a complete array of expense management solutions. With acceptance in more than 185 countries and territories, millions of merchant locations and access to over 675,000 cash access locations and ATMs, Diners Club is uniquely qualified to serve its cardmembers all over the world. For more information, visit www.dinersclub.com.
DinaCard is the national Serbian payment card accepted on over 60,000 merchant locations and close to 3,000 ATMs in Serbia. It is operated by the Serbian central bank, the National Bank of Serbia and has all Serbian banks as it member banks. For more information visit www.nbs.rs.