BANCOMAT S.p.A and Discover signed a strategic agreement that “increases acceptance for Discover, Diners Club International and network alliance cardholders, all part of the Discover Global Network.”
This new partnership will “give cardholders the ability to use their cards and mobile payment products on the BANCOMAT network throughout Italy.”
As noted in the announcement, Italy is a top business and tourism destination, “ranking 2nd for travelers in Europe.”
Tourism from abroad is expected “to grow 49% by 2025 with an influx of travelers from countries where cards are issued that run on the Discover Global Network including the US, Brazil, India, Austria, Switzerland, Croatia and more.”
This agreement “enhances the Discover Global Network strategy to grow the number of payment options available to its issuing partners and provides more choice to consumers on how they want to pay.”
Alessandro Zollo, Chief Executive Officer at BANCOMAT, said:
“This strategic partnership with Discover Global Network reinforces BANCOMAT’s continuous efforts to offer multiple payment options. We believe that this new alliance will grant visitors a compelling payments acceptance experience in our country, while introducing new options and increasing the choices for our banks. This strategic partnership focuses on acquiring to allow all Discover Global Network cards to be accepted at merchants through the BANCOMAT network and in the future we will work towards new business opportunities with Discover.”
Matt Sloan, vice president of international markets at Discover, remarked:
“Our global payments network is built on the power of partnerships. BANCOMAT provides access to 100% of the merchants in Italy through their extensive relationships with acquirers. The agreement will benefit both merchants by connecting them with Discover Global Network cardholders and those cardholders that regularly spend in Italy.”
Discover Global Network reportedly has over 280 million cardholders worldwide and processes billions of transactions in over 200 countries and territories.
With over 60 million merchant acceptance locations and 1.8 million ATM and cash access locations, Discover Global Network “includes Discover Network, Diners Club International, PULSE and more than 25 alliance partner networks across the globe.”