Discover Financial Services can check off another country in its plan to become a truly global card-acceptance brand.
The Riverwoods, Ill.-based card network will “dramatically” expand its presence in Puerto Rico, where it has limited card acceptance, through an agreement signed with Banco Popular de Puerto Rico, the companies announced Feb. 7.
The deal will enable some 20,000 commercial customers of Banco Popular to begin accepting Discover cards and those of its Diners Club International unit, a Discover spokesperson tells PaymentsSource.
The deal marks Discover’s first and largest agreement with a major merchant acquirer in Puerto Rico, the spokesperson says, noting that the process will take place “later this year.”
Discover in 2009 began inking a series of card-acceptance agreements with regional ATM and point-of-sale networks around the world (
“The relationship with Puerto Rico’s largest commercial bank marks an important growth opportunity for Discover on the island,” Gerry Wagner, Discover vice president of global acceptance, said in a press release.
Fabio Garcia, senior vice president of Banco Popular’s retail credit division, said in the release that the bank is “enthusiastic” about adding Discover to its lineup of payment options, noting Puerto Rico is a popular travel destination for U.S. credit cardholders.
