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Discover forges alliance with Malaysia's Paynet

Source: Discover

Discover, a leading digital bank and payments company, and Payments Network Malaysia Sdn Bhd (PayNet), the national payments network and shared central infrastructure for payment services in Malaysia, have signed an agreement that will greatly expand acceptance for Discover, Diners Club International and network alliance cardholders in Malaysia.

The agreement complements Discover’s strategy of growing acceptance in Asia Pacific to support existing partners in countries such as Singapore, India, China and Japan by potentially opening acceptance at 10,000 ATM locations and more than 570,000 point-of-sale terminals throughout Malaysia. Discover has seen continued acceptance growth in the Asia Pacific region over the past few years with recent partnerships in China, Taiwan, Hong Kong, Cambodia, Vietnam and New Zealand, adding to multiple already established relationships. This resulted in acceptance in the region growing 14 percent in 2020.

“Working with PayNet was key to opening the Malaysian market to our partners around the globe,” said Ricardo Leite, senior vice president of international markets at Discover. “Discover will continue to work with payment providers in the region in an effort to provide more seamless payment interactions for customers when travel is necessary.”

“PayNet sees many exciting opportunities for both parties with this partnership. It fits well with PayNet’s efforts to provide opportunity to our member banks to expand their reach by connecting to the Discover Global Network, and Malaysian businesses to increase sales opportunities by facilitating payments by Discover’s global cardmember base visiting Malaysia,” said Peter Schiesser, Group CEO at PayNet.

Discover Global Network has more than 50 million merchant acceptance locations and 2 million ATM and cash access locations around the world. The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 20 alliance partner networks across the globe.

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