Elo and Discover mark “first” transaction for global network boost
This transaction marks the official acceptance of the Elo Global Card in the US. The cards are issued by Banco do Brasil, Bradesco and Caixa Econômica Federal, and will be used for international purchases and cash access outside of Brazil on the Discover Global Network.
“Brazilians continue to increase their international travel and we are excited to help them make purchases while traveling in the US and elsewhere throughout the world,” says Diane Offereins, president of payment services for Discover.
Elo says its Global Cards were created to meet the demand of “high-spend” travellers and online shoppers.
According to Elo, Brazilians spent $17.3 billion in 2015 when traveling outside of Brazil, with the US as one of their top destinations. Brazilian ecommerce cross-border spend reached $18 billion in 2015, with US based companies accounting for 72% of those purchases, and is expected to reach $25 billion by 2018.
Discover Global Network says it is the third largest payments network in the world and includes 38 million merchant acceptance locations and over 1.9 million ATM cash access locations across 185 countries and territories. The network includes alliance partnerships in China, Europe, India, Japan, the Middle East, Puerto Rico, Serbia, South Korea and Vietnam, among others.