Brussels based Eufiserv Payments and Discover Financial Services' (DFS) debit and ATM network subsidiary Pulse have inked a strategic ATM participation agreement.
Under terms of the agreement, over 68 million cards, issued by 600 EUFISERV member banks, can participate in the Pulse Global ATM Network as well as point of sale (POS) on pan European basis and beyond.
Further, ATM transactions conducted by EUFISERV member cardholders will be enabled at over 850,000 ATMs in the Pulse Global ATM Network, which will boost its global ATM volume.
Discover global business development vice president Joe Hurley said this partnership is an important strategy to develop an alternative global payments network and provide both financial institutions and consumers’ additional choice.
"By partnering with regional payments networks such as EUFISERV, Discover is able to leverage its unique set of assets to grow volume, while providing our partners with the global reach and localized preferences and needs they require," Hurley added.
Both parties have agreed to implement the deal in two phases and in the first phase; they will focus on European markets, and in the second phase they will explore acceptance opportunities in other Pulse ATM markets.
Pulse is a debit/ATM network, which serves over 6,300 financial institutions across the US, including 4,300 issuers with direct ties and more than 2,000 additional issuers through agreements with other debit networks.