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BUSINESS

Discover announces Alliance with Malaysia's PayNet to expand worldwide acceptance

23/03/2021 12:04 PM

KUALA LUMPUR, March 23  -- Discover and Payments Network Malaysia Sdn Bhd (PayNet) have signed an agreement to expand worldwide acceptance for Discover, Diners Club International and network alliance cardholders in Malaysia.

In a joint statement today, the companies said the agreement complements Discover’s strategy of growing acceptance in Asia Pacific to support existing partners in countries such as Singapore, India, China, and Japan by potentially opening acceptance at 10,000 automated teller machine (ATM) locations and more than 570,000 point-of-sale terminals throughout Malaysia.

Discover, a leading digital bank and payments company, has seen continued acceptance growth in the Asia-Pacific region over the past few years with recent partnerships in China, Taiwan, Hong Kong, Cambodia, Vietnam, and New Zealand, adding to multiple already established relationships. This resulted in acceptance in the region growing 14 per cent in 2020.

“Working with PayNet was key to opening the Malaysian market to our partners around the globe.

“Discover will continue to work with payment providers in the region in an effort to provide more seamless payment interactions for customers when travel is necessary,” Discover senior vice-president of international markets Ricardo Leite said. 

Meanwhile, PayNet group chief executive officer Peter Schiesser said PayNet, the national payments network and shared central infrastructure for payment services in Malaysia, sees many exciting opportunities for both parties with the partnership.

“It fits well with PayNet’s efforts to provide opportunity to our member banks to expand their reach by connecting to the Discover Global Network, and Malaysian businesses to increase sales opportunities by facilitating payments by Discover’s global cardmember base visiting Malaysia,” he said.

Discover Global Network has more than 50 million merchant acceptance locations and two million ATM and cash access locations around the world. The Discover Global Network includes Discover Network, Diners Club International, PULSE, and more than 20 alliance partner networks across the globe.

-- BERNAMA

 

 

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