Discover Financial Services and China UnionPay Announce Strategic Alliance
Discover Financial Services and China UnionPay have announced they have entered into a strategic alliance that will lead to acceptance of Discover Network Cards at China UnionPay ATMs and point-of-sale terminals in China and acceptance of China UnionPay cards on the PULSE network in the U.S. Both also agreed to pursue ways to enable acceptance of China UnionPay cards at Discover Network's more than four million merchant and cash access locations in North America.
"We look forward to working with Discover Financial Services to expand customer convenience in North America and China," said Wan Jianhua, President and CEO of China UnionPay. "There are over 800 million CUP cards and this alliance will make it possible for China UnionPay cardholders to use their cards while traveling in the U.S."
"This agreement will provide one of the world's largest card bases access to merchant locations and ATMs in the U.S.," said David Nelms, Chairman and CEO of Discover Financial Services. "We're very excited about the benefits this relationship will bring to cardmembers, merchants and financial institutions."
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