Discover Global Network has partnered with Panama’s national payment system Telered Sistema Clave, enabling its users to make purchases and payments at over 70 million locations worldwide.
The integration allows for cash withdrawals at more than 1.8 million ATMs across Discover’s network.
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This development marks an expansion of services for Telered users, who will continue to get the benefits of low-cost transactions and PIN security.
Now Panamanian merchants can also accept transactions from Discover’s cardholder base, which includes more than 345 million cards from Discover Network, Diners Club, PULSE, and other partners.
This collaboration brings new security features, the ability to issue cards with an international profile, and access to a broader network of global alliances.
The integration will also introduce contactless payment technology and compatibility with digital wallets and transportation systems, such as the Panama Metro.
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By GlobalDataThe implementation of this alliance, known as Proyecto Clave 2.0, is a complex technological undertaking that will unfold over the next year.
It comprises three main stages, adapting Telered’s infrastructure for Discover Global Network connectivity, issuing the new Clave Global Card, and enabling merchant and ATM networks to accept the card.
Telered general manager and executive vice president Alexander Acosta said: “This alliance not only strengthens our position as industry leaders but also contributes to improving the payment experience for both residents and visitors, generates new business opportunities, and strengthens the digital payment platform both inside and outside the country.”
Discover international markets vice president Alejandro Orestano said: “This alliance provides benefits across the entire payments ecosystem and builds a more robust and secure payments experience. Discover Global Network is bringing wide global acceptance, increased security and technology to Sistema Clave while gaining acceptance access to Panama’s full network of merchants for our own global cardholders.”
In July this year, Discover unveiled Balance+, a new feature for its Cashback Debit Checking account holders. This enhancement provides discretionary overdraft coverage without fees on everyday debit card transactions.
