Joint partnership to expand Discover® card acceptance in Puerto Rico
RIVERWOODS, Ill. & PUERTO RICO, Feb 07, 2011 (BUSINESS WIRE)-- Discover Financial Services (NYSE: DFS) and Banco Popular de Puerto Rico (BPPR), Puerto Rico's largest commercial bank, have announced that they signed an agreement to expand Discover card acceptance in Puerto Rico. The deal will provide Banco Popular de Puerto Rico merchant customers with access to the millions of cardmembers and billions in spending on the Discover and Diners Club International networks.
The agreement with Banco Popular de Puerto Rico will provide a significant milestone for Discover, given the popularity of Puerto Rico as a top travel destination. International travelers who enter Puerto Rico can expect Discover cards to be accepted at thousands more merchant locations, providing them with the ability to use their Discover cards at merchants throughout the country.
"The relationship with Puerto Rico's largest commercial bank marks an important growth opportunity for Discover on the island," said Gerry Wagner, Vice President of global acceptance at Discover. "Cardmembers will be able to use their cards wherever they shop in Puerto Rico, allowing them even more opportunities to reap the great rewards offered by Discover." "We are enthusiastic about the opportunities that our partnership with Discover and its members will create for our more than 20,000 merchant locations, and pleased to add the Discover and Diners Club cards as payment options for more than a million visitors that make Puerto Rico a top travel destination," said Fabio Garcìa,Senior Vice President of the Retail Credit Division at Banco Popular.
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 Banco Popular de Puerto Rico
Banco Popular de Puerto Rico is the leading financial institution in Puerto Rico with $31 billion in assets. A subsidiary of Popular, Inc., Banco Popular provides financial services to approximately 1.4 million individual and business clients. Banco Popular also offers the most extensive and complete distribution network in Puerto Rico, with 187 branches, more than 605 ATMs and 27,162 point of sale terminals, a 24/7 call center (TeleBanco Popular) and advanced online banking at www.MiBancoPopular.com.