Discover recently partnered with Smartlink Card—a payments network in Vietnam—to allow Discover and Diners Club International cardholders to use their cards at ATMs throughout the country.
The agreement will boost transaction volume on the Smartlink payment network while allowing Discover and DCI cardholders expanded access across Vietnam.
“Discover’s relationship with Smartlink captures the true essence of our global expansion strategy, which is to leverage our unique set of assets to grow volume and support the growth of local leading international networks,” Diane Offereins, the president of payment services at Discover, said. “With Vietnam poised as an emerging market with large economic growth, we feel confident that we’ve found a strong partner and will continue to explore additional opportunities with Smartlink in the future.”
Smartlink is connected to 51 banks and financial institutions across Vietnam—40 of which are Smartlink members. It has more than 16,000 ATMs and 100,000 POS terminals in Vietnam. During the first nine months of the year, it processed over 70 million transactions valued at $2.7 billion.
“The strategic alliance with Discover reinforces Smartlink’s continuous efforts to diversify its card-payment services for banks and promote Vietnam’s card-payment market development,” Smartlink Chairman Dao Minh Tuan said. “Based on this strategic alliance, Smartlink will provide banks an effective international connection and the opportunity to use Discover’s payment products.”