Discover and NCCC Extend Relationship by Signing Network Agreement
RIVERWOODS, Ill. & TAIPEI, Taiwan--(BUSINESS WIRE)--Jul 31, 2018--Discover Financial Services, a leading direct bank and payments services company, and National Credit Card Center of R.O.C. (NCCC), the domestic payment network in Taiwan, today signed an agreement to form a strategic network alliance and expand its existing acquiring relationship. Currently, Discover®, Diners Club International®, and network affiliate cards are accepted on the NCCC network in Taiwan. The new agreement will allow acceptance of NCCC Global Cards outside of Taiwan on the Discover Global Network.
NCCC is a non-profit foundation that provides card issuing member institutions with centralized processing services, including international credit card brand licensing and sponsorship, a shared information system, as well as merchant network setup. NCCC will continue to work with Taiwanese merchants to ensure acceptance of Discover, Diners Club and affiliate network cards on their network.
The agreement also allows for all banks in Taiwan to begin issuing NCCC Global Cards. The cards will be issued by Taiwanese banks after enrolling in the Global Card program and run on their network domestically, while Discover Global Network will be enabling global acceptance for the card.
“Through the alliance with Discover, we have succeeded in fully connecting NCCC’s local network to Discover Global Network,” said Teng Cheng Liu, chairman of NCCC. “This agreement has provided a solid foundation for cardholders in Taiwan, not just to obtain a card that suits their daily life, but also offers convenience for the cardholders when using the card abroad.“
“NCCC’s acceptance encompasses Taiwan, giving our cardholders the opportunity to use their card across the region,” said Joe Hurley, senior vice president and head of global business development for Discover. “Extending this relationship complements our strategy of creating alliances that provide consumers around the world with the ability to use their payment form of choice.”
Taiwan has a growing international tourism market with 17 million outbound travellers and an expenditure of more than 26 billion U.S. dollars in 2017. 1 The Discover Global Network includes Discover Network, Diners Club International, PULSE® and affiliate networks. It has more than 42 million merchant acceptance locations and 2 million ATM cash access locations across 190 countries and territories.
National Credit Card Center of R.O.C. (NCCC), first established in 1983, was formed by funds of major banks in Taiwan and, for over 35 years, the entity has provided an efficient yet cost effective operating mechanism for the payment industry in the market. The entity operates under a membership-based system, with 26 issuing member institutions that account for over 80% of Taiwan’s credit card transaction volume. NCCC provides members with centralized processing and switching services, international credit card brand licensing and sponsorship, shared information system, and merchant network. For more information, visit www.nccc.com.tw.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in 190 countries and territories. For more information, visit www.discover.com/company.
1 2017 Euromonitor
View source version on businesswire.com:https://www.businesswire.com/news/home/20180731005187/en/
CONTACT: Hanover Chu
National Credit Card Center of R.O.C.
Phone number: 02-2719-1919
Sarah Grage Silberman
Discover/Diners Club International
KEYWORD: UNITED STATES ASIA PACIFIC NORTH AMERICA ILLINOIS TAIWAN
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
SOURCE: Discover Financial Services
Copyright Business Wire 2018.
PUB: 07/31/2018 06:00 AM/DISC: 07/31/2018 06:01 AM