Brazil’s Elo Goes Global with Discover Partnership (Aug. 25, 2015)
Elo, the largest Brazilian credit card brand, is accepted in more than 1.65 million domestic locations. That number of acceptance points is about to get much larger, and global, through a partnership with Discover Financial Services. Elo cardholders will be able to make purchases outside of the country using the Discover Global Network, which includes the Discover Network, Diners Club International and the debit/ATM PULSE network.
“The Network Alliance program announced with Elo allows its member banks to issue Elo Global Cards for use on the Discover Global Network outside of Brazil. Elo will support its cards and issuers in Brazil,” Frank Robinson, director, head of network alliances—Americas, tells Paybefore.
Elo, which was launched in 2011 through a partnership of three of Brazil’s largest banks Banco do Brasil, Bradesco and Caixa, offers credit, debit and prepaid cards. The company has issued more than 80 million cards.
The agreement initially will focus on enabling Elo Global Cards to have acceptance in more than 185 countries and territories via Discover’s Network. São Paulo-based Elo and Riverwoods, Ill.-based Discover also will collaborate on the integration of D-PAS, Discover’s EMV-compliant payment specification, to help ensure safe international transactions, the companies said. They also will work together on emerging payment products.
Discover has a history of leveraging its payments infrastructure to create mutually beneficial relationships around the world, according to Joe Hurley, senior vice president global business development, Discover Network. Discover’s global network includes partnerships in China, India, Japan, the Middle East, Puerto Rico, Serbia, South Korea, Vietnam and Europe among other locations.