Arab Financial Services and Discover Sign Network Alliance Agreement
May 18, 2021
18 May 2021 – Manama, Kingdom of Bahrain
Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, and Discover, a digital banking and payments services company, have signed a strategic network alliance agreement that will increase the global acceptance footprint for both organizations. The agreement will initially give Discover, Diners Club International and network alliance cardholders the ability to use their card on AFS Android-based point-of-sale (PoS) terminals across the Kingdom of Bahrain. All AFS PoS terminals are enabled for contactless debit and credit card payments.
Discover, Diners Club International and network alliance cardholders will be able to use their cards for the first time in Bahrain through this strategic alliance. It also enhances the AFS strategy to bring new entrants into the Bahrain market, and AFS banks can opt to issue credit cards that will have access to the Discover Global Network for international purchases and cash access outside of Bahrain. When AFS begins to issue their Global Cards, cardholders will have access to more than 50 million merchants in 200 countries and territories as part of the Discover Global Network.
Mr. Samer Soliman, AFS Chief Executive Officer, said: “By entering into this network alliance agreement with Discover, we have successfully expanded on the wide range of convenient payment options available through AFS state-of-the-art PoS acceptance systems. AFS market-leading PoS technology enhances the experience for all customers, giving them smart, secure, and convenient payments acceptance platforms with a variety of benefits and value-added services. With this agreement, customers can now use their Discover, Diners Club International or partner alliance cards, including but not limited to India’s RuPay, and Turkey’s Troy, for seamless payments at AFS PoS terminals.”
"This agreement ensures we can provide regional issuers with access to the Bahrain market, while creating mutually beneficial growth opportunity for Discover and AFS," said Matt Sloan, vice president of international markets at Discover. "By connecting to regional payments partners like AFS, we are able to provide our cardholders with the global reach and localization they require.”
As the first smart Android-based, integrated PoS terminals in Bahrain, the AFS world class payment acceptance solutions give merchants and customers access to state-of-the-art tools for payment. Additionally, AFS’ many value-added benefits include acceptance of all major card schemes, multi-lane integration for hypermarkets, dynamic currency conversion, loyalty programs, easy payment plans, analytics, bill payment and merchant lending.
The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 20 alliance partner networks across the globe, including relationships in China, Japan, Korea, India, Brazil, Turkey, and Nigeria.