The agreement is the latest effort by Discover Global Network to expand in the Asia-Pacific region
Network for Electronic Transfers (NETS) and Discover Global Network have launched their strategic agreement, signed in 2022, in an event with executives from both companies. The agreement will expand the global acceptance footprint for Discover Global Network cardholders within Singapore. Discover Global Network cards include Discover®, Diners Club International®, and Network Alliance cards.
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(From left to right) Mr Lawrence Chan, Group CEO, NETS Mr Richardo Leite, Senior Vice President, Head of International Markets (Photo: Business Wire)
NETS is one of the key acquirers in Singapore with over 130,000 acceptance points, and this agreement gives Discover Global Network cardholders the ability to use their cards at Point-of-Sale (POS) across Singapore in segments such as food and beverage, retail, convenience stores and supermarkets.
“This partnership is a natural step forward for NETS as we continue to strengthen our one-stop offering for merchants. Our study confirms merchants want to access a wide range of digital payment acceptance through a single payment provider. NETS is grateful that we are now able to better achieve our purpose of connecting communities, empowering lives by bringing more customers who wish to use Discover to pay our merchants,” said Lawrence Chan, Group CEO at NETS.
“Our strategic alliance with NETS in Singapore contributes to our rapid expansion in the Asia-Pacific region,” said Chris Winter, managing director, head of international markets, APAC at Discover. “We have seen increased spending in the region from consumers around the world, and we want those shoppers to be able to pay how they want.”
With 34 percent spend growth in the Asia-Pacific region for Discover Global Network in 2023 alonei, Discover Global Network’s agreement with NETS is the latest collaboration to bring more payment opportunities to cardholders and more customers to merchants. In addition to Singapore, through recent enablement with payments companies in Australia and China, Discover Global Network cardholders can make payments at millions of accepting merchants around the region.
About Discover
Discover Financial Services (NYSE: DFS) is a digital 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 personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network® comprised of Discover Network, with millions of merchants 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.
i Discover Financial Services, Discover Financial Services data, January 2024
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