Discover, based in Illinois, has entered a strategic agreement with BANCOMAT to increase the acceptance rate for Discover, Diners Club International and network alliance cardholders in Italy, according to a press release.
“Our global payments network is built on the power of partnerships,” vice president of international markets at Discover, Matt Sloan, said in the release. “BANCOMAT provides access to 100% of the merchants in Italy through their extensive relationships with acquirers. The agreement will benefit both merchants by connecting them with Discover Global Network cardholders and those cardholders that regularly spend in Italy.”
The launch will grant new and existing cardholders the ability to use their cards and perform mobile transactions across Italy on the BANCOMAT network.
“This agreement enhances the Discover Global Network strategy to grow the number of payment options available to its issuing partners and provides more choice to consumers on how they want to pay,” a recent press release stated.
The country ranks second with the most traveler volume. Its tourism is expected to increase by 49% by 2025. An influx of travelers is expected at numerous territories stationing Discover Global Network operations, including the U.S., Brazil, India, Austria, Switzerland and Croatia, among others.
“This strategic partnership with Discover Global Network reinforces BANCOMAT’s continuous efforts to offer multiple payment options,” said Alessandro Zollo, CEO at BANCOMAT, in the release. “We believe that this new alliance will grant visitors a compelling payments acceptance experience in our country, while introducing new options and increasing the choices for our banks. This strategic partnership focuses on acquiring to allow all Discover Global Network cards to be accepted at merchants through the BANCOMAT network and in the future, we will work toward new business opportunities with Discover.”
Discover Global Network has now garnered more than 280 million cardholders, and processes billions of transactions in more than 200 territories worldwide. The company has established more than 60 million merchant acceptance and 1.8 million ATM and cash access locations worldwide and more than 25 alliance partner networks across the globe.