Discover and Eazy Sign Agreement to Grow Acceptance for Cardholders

Rhea-AI Summary

Discover and Eazy Financial Services have partnered to expand card acceptance in Bahrain. Cardholders can now use their cards at 95% of merchants and 100% of ATMs in the country. Eazy Financial will soon issue national cards, allowing access to Discover's global network of over 50 million merchants. This marks Discover's second alliance in Bahrain within a year and its sixth in the Middle East and North Africa. Matt Sloan from Discover highlighted the benefits to regional partners, while Eazy's CEO noted significant customer acquisition opportunities.

Positive

• Expansion of card acceptance to 95% of merchants and 100% of ATMs in Bahrain.
• Access for Eazy Financial customers to Discover's global network of over 50 million merchants.
• Partnership enhances customer acquisition opportunities for Eazy Financial.

Negative

• None.

Discover, a leading digital bank and payments company, and Eazy Financial Services signed an agreement to expand acceptance for both company’s cardholders. Discover, Diners Club International and network alliance cardholders will now be able to use their card at 95% of point-of-sale merchants and 100% of ATMs in Bahrain. Once Eazy Financial begins issuing its first national cards, its customers will get access to the Discover Global Network and be able to make transactions at more than 50 million merchants in more than 200 countries and territories.

This partnership is Discover’s second network alliance signed in the past year in Bahrain and will grow acceptance to almost 100% for Discover Global Network cardholders transacting in the country. It is also the sixth alliance agreement Discover has signed in the Middle East and North Africa region.

“Continually growing acceptance in this area will benefit all of the cardholders of our regional partners,” said Matt Sloan, vice president of international markets at Discover. “Eazy Financial has a strong footprint in the country and working together will provide its cardholders a strong card product.”

“This partnership with Discover empowers Eazy with the quickest, most effective way to re-engineer its business strategies,” said Nayef Tawfeeq Al Alawi, Founder & MD, CEO of Eazy Financial Services. “Discover shall provide Eazy with significant customer acquisition opportunities, and serve as an important brand investment for Eazy and its customers, serving them with trustable, secured and unified Global Card Acceptance.”

Discover Global Network has more than 50 million merchant acceptance locations and 2 million ATM and cash access locations around the world. The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 20 alliance partner networks across the globe.

About Discover

Discover Financial Services (NYSE: DFS) is a digital 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 loans, checking and savings accounts and certificates of deposit through its 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

About Eazy

Established in 2016, Eazy is licensed & regulated by the Central Bank of Bahrain as an Ancillary Services Provider, Payment Services Provider, Biometric Payment Services, Payment Gateway, Financial Settlement/Clearing House, Card programs/Scheme and The 4^th POS & Online Payment Acquirer in The Kingdom of Bahrain. Eazy’s 1^st product was the “Biometric Payment Network” Inaugurated back in 2019 by The Late HRH Prince Khalifa bin Salman Al Khalifa the Prime Minster of the Kingdom of Bahrain being the “First Bahraini enrolling and transacting using his Fingerprint. Eazy is Primarily engaged in digital financial services within the Financial Industry such as “Digital Wallet” allowing customers based in Bahrain and other countries to obtain Eazy’s Wallet Account & Eazy’s own National Virtual & Physical Branded Cards, in addition to numerous added value services to their wallet & cardholders such as Biometric Facial payments and more, by achieving its main goal towards transacting seamlessly, adopting innovative new trends & latest payment industry solutions that will evolve to the next level of customer experience.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210520005102/en/

FAQ

What is the significance of the Discover and Eazy Financial Services partnership?

The partnership significantly expands card acceptance for Discover's cardholders in Bahrain, allowing usage at 95% of merchants and 100% of ATMs.

How many merchants will Eazy Financial Services customers have access to through Discover?

Eazy Financial Services customers will have access to over 50 million merchants worldwide through Discover.

When will Eazy Financial start issuing its first national cards?

Eazy Financial will begin issuing its first national cards soon, allowing cardholders access to Discover's global network.

How many alliances has Discover signed in the Middle East and North Africa?

Discover has signed six alliance agreements in the Middle East and North Africa region.

What percentage of merchants in Bahrain accept Discover cards after the new agreement?

After the agreement, Discover cards will be accepted at 95% of point-of-sale merchants in Bahrain.