US firm announces alliance with local Smartlink network
(VOV) -Discover Financial Services (DFS) of the US and Smartlink Card., JSC, a leading domestic payments network in Vietnam, has announced a strategic alliance to expand the card payment network in the country.
Under an agreement reached by the two sides on November 14, Discover and Diners Club International (DCI) cardholders are given the ability to use their cards at more than 16,000 ATMs in Vietnam via a network of local commercial banks.
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The long-term agreement will further increase transactions through the international domestic payment network while giving Discover and DCI cardholders more consumer cash access points in Vietnam.
“Discover’s relationship with Smartlink captures the true essence of our global expansion strategy, which is to leverage our unique set of assets and support the growth of local leading international networks,” said Diane Offereins, President of Payment Services at Discover.
“With Vietnam poised as an emerging market with large economic growth, we feel confident that we’ve found a strong partner and will continue to explore additional opportunities with Smartlink in the future,” he said.
Dao Minh Tuan, Chairman of the Board of Smartlink Card., JSC, said the strategic alliance with Discover reinforces Smartlink's continuous efforts to diversify its card-payment services for banks and promote Vietnam's card-payment market development. Based on this strategic alliance, Smartlink will provide banks an effective international connection and the opportunity to use Discover’s payment products, he added.
Currently Smartlink is inter-connected with 51 banks and financial institutions, of which 40 banks are Smartlink members. It is a leading Network with more than 16,000 ATMs and 100,000 point-of-sale terminals, which supports payment activities for 55 million local debit cards in market.
DFS is a direct banking and payment services company with one of the most recognized brands in US financial services. Since its inception in 1986, the company has become one of the largest card issuers in the US, with millions of merchant and cash access locations, and a global payments network with acceptance in more than 185 countries and territories.