The transaction marks the official acceptance of the Elo Global Card in the US. 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 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 Diane Offereins, president of payment services for Discover. “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 Global Cards were created to meet the demand of high-spend travelers and online shoppers. Brazilians spent USD 17.3 billion in 2015 when traveling outside of Brazil, with the US as one of their top destinations. The domestic ecommerce cross-border spend reached USD 18 billion in 2015, with US based companies accounting for 72% of those purchases, and is expected to reach USD 25 billion by 2018.
The Discover Global Network is the third largest payments network in the world 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.
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