Discover to Broaden International Acceptance Through Alliance with JCB
Discover Financial Services announced today an alliance with Japan’s largest credit card issuer, JCB, that would allow both companies to accept cards within each other’s payment networks. Starting in 2007, Discover will begin allowing JCB cardholders to use those cards at Discover Network merchant locations in the United States. In turn, beginning in 2008, Discover credit card customers will be able to use their cards in Japan for purchases at JCB merchant locations. By widening its acceptance internationally, Discover takes a step to strengthen a weakness that keeps some consumers from choosing its credit cards.
Currently, Discover cards are accepted in Canada, Mexico, and the Caribbean. Discover has also recently signed agreement that will enable the acceptance of Discover credit cards in Central America and China. Today’s announcement also highlights the potential benefits for JCB in the alliance. According to the U.S. Department of Commerce, more than 3.8 million Japanese travelers visited the U.S. in 2005, and spent more than $12.9 billion. Allowing more of those travelers to use their JCB cards should be a boost for the company.
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