Discover Financial inks deal with Chinese ATM network

Discover Financial inks deal with Chinese ATM network
Tags: Bank / Credit Union, Networking / Connectivity, Public Companies, Trends / Statistics
May 26, 2005

RIVERWOODS, Ill. & SHANGHAI, China - Discover Financial Services, owner of Discover Network and PULSE ATM/debit network, and China UnionPay, the only national bankcard association in China, announced May 26 in a news release that they have entered into a strategic alliance.

The two companies signed a long-term agreement that will lead to acceptance of Discover Network Cards at China UnionPay ATMs and POS terminals in China and acceptance of China UnionPay cards on the PULSE network in the United States. Both sides agreed to pursue ways to enable acceptance of China UnionPay cards at Discover Network's more than 4 million merchant and cash access locations in North America.