Discover Card Now Accepted in China
Discover Financial Services made its foray into China official last week, when CEO David Nelms purchased a bronze horse with his Discover Card at Qianmen Quanjude restaurant in Beijing. It was the first transaction in a partnership between Discover and China Unionpay that allows Discover credit cards to be accepted at merchant locations where China Unionpay is accepted. This includes over 480,000 merchant locations and 90,000 ATMs across China. As part of the partnership, China Unionpay cards began being accepted at Discover Network merchants in the United States last December.
Discover signed a long-term agreement with China Unionpay in May of 2005, as part of a multi-pronged strategy to increase its reach internationally. One of Discover’s shortcomings in trying to compete with larger rivals Visa, MasterCard and American Express has been the fact that it can be used in few locations outside of the United States. In addition to extending into China, Discover has agreements that will allow it to achieve merchant acceptance in Japan and in some Central American countries in the near future.
Disclaimer:The information in this article is believed to be accurate as of the date it was written. Please keep in mind that credit card offers change frequently. Therefore, we cannot guarantee the accuracy of the information in this article. Reasonable efforts are made to maintain accurate information. See the online credit card application for full terms and conditions on offers and rewards. Please verify all terms and conditions of any credit card prior to applying.
This content is not provided by any company mentioned in this article. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any such company. CardRatings.com does not review every company or every offer available on the market.
Published (Modified )