Brazil's Elo card joins Discover Global Network
RIVERWOODS - Brazilian card brand Elo conducted its first international transaction today in the U.S. on the Discover Global Network, marking the official acceptance of the Elo Global Card in the U.S.
Elo Global Cards are issued by Banco do Brasil, Bradesco and Caixa Econômica Federal, and will be used for international purchases and cash access outside of Brazil on the Discover Global Network, which includes Discover Network, Diners Club International, PULSE and affiliated networks.
The milestone first transaction was made by Elo President Eduardo Chedid, and observed by Elo board members, Alexandre Rapaport of Bradesco Bank, Mario Neto of Caixa Econômica Federal, Rogerio Panca of Banco do Brasil S.A., and Discover's president of payment services Diane Offereins.
"Brazilians continue to increase their international travel and we are excited to help them make purchases while traveling in the U.S. and elsewhere throughout the world," said Offereins. "We have worked with Elo to ensure those with Elo Global Cards can enjoy the benefits of global acceptance on our network while traveling outside of Brazil."
Elo President Eduardo Chedid said the ability of using the new credit card outside of Brazil is important for customers with higher purchasing power.
"Therefore, we are ready to meet the needs of such clients in a comprehensive way through our partnership with Discover," he said.
Elo Global Cards were created to meet the demand of high-spend travelers and online shoppers. Brazilians spent $17.3 billion in 2015 when traveling outside of Brazil, with the US as one of their top destinations 1. Brazilian e-commerce cross border spend reached $18 billion in 2015, with U.S. based companies accounting for 72 percent of those purchases, and is expected to reach $25 billion by 2018 1.
The Discover Global Network is the third largest payments network in the world 2 and includes 38 million merchant acceptance locations and over 1.9 million ATM cash access locations across 185 countries and territories. The network includes alliance partnerships in China, Europe, India, Japan, the Middle East, Puerto Rico, Serbia, South Korea and Vietnam, among others.