As the industry leader in cross border payment acceptance in Turkey, İşbank, has come to an arrangement with Discover Global Network, the payments brand of Discover, to increase the acceptance of Discover, Diners Club International and alliance partner cards. The agreement is through the relationship that both companies hold with the Interbank Card Center (BKM). With adding all of the cards that run on the Discover Global Network to its card acquiring network, Işbank now is an acquirer for the most card brands in Turkey.
The agreement will open acceptance for Discover Global Network cardholders at the more than 12,000 e-commerce merchants, 400,000 point-of-sale merchants and 6,500 ATMs of İşbank.
İşbank’s Deputy Chief Executive Yalçın Sezen has stated that: “With the acceptance of Discover and Diners Club International cards we are enabling our transportation, tourism and retail merchants to give service to our guests from around the world who are Discover Global Network cardholders. Additionally, we are bringing our e-commerce merchants a solution that will increase their transaction volume and enable them to give fast and secure service. I think this cooperation with Discover Global Network is an important step for increasing the diversity of the product and services we offer to merchants and cardholders, while contributing to Turkish businesses that are opening abroad, making cross border commerce easier, and increasing merchant volumes.”
“İşbank is one of the largest financial institutions in the country and its portfolio will provide key merchant acceptance to our cardholders,” said Ricardo Leite, senior vice president of international markets at Discover. “Adding İşbank as an acquiring partner through our alliance agreement with BKM complements Discover’s strategy of creating worldwide alliances that provide consumers with more choice when it comes to how they pay.”
The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 15 alliance partner networks across the globe, including relationships in China, Japan, Korea, India, Brazil, Turkey, and Nigeria. It has more than 44 million merchant acceptance locations and 2 million ATM cash access locations around the world.
With its solid capital base reinforced by sustained profitability, İşbank is the largest private bank in Turkey in terms of shareholders’ equity, which amounted to TL 54.6 billion ($ 9.8 billion) as of September 2019. İşbank also ranks first in terms of total assets, total loans and total deposits among privately owned banks in Turkey. İşbank posted TL 3.8 billion ($ 0.7 billion) net profit in the first nine months of 2019 and the Bank’s capital adequacy ratio stood at 17.8% at the end of the same period.
İşbank’s payment systems solutions allow businesses to make payments in 36 different payment methods in over 50 countries, as well as the world’s largest card processing companies such as Visa, MasterCard, American Express, UnionPay, JCB and MIR. In this sense, İşbank’s physical and virtual POS member merchants are also able to accept almost all international cards in the world and alternative payment methods, which are widely used in Europe, United States, Latin America and Far East.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.