• Slice of Finance
  • Posts
  • Telered and Discover Global Network Announce Strategic Partnership

Telered and Discover Global Network Announce Strategic Partnership

Author

Slice of Finance Team
20 Nov

Key Highlights:

  • Sistema Clave users gain access to 70 million global acceptance locations and 1.8 million ATMs worldwide through Discover Global Network.

  • Merchants in Panama can now serve over 345 million Discover Global Network cardholders, expanding their global market potential.

  • Partnership introduces contactless payments, digital wallets, and integration with Panama Metro for enhanced user convenience.

  • Launch of Project Clave 2.0, focusing on infrastructure adaptation, Clave Global Card issuance, and merchant enablement.

Source: Business Wire

Notable Quotes:

❝

"This alliance not only strengthens our position as industry leaders but also contributes to improving the payment experience for both residents and visitors."

Alexander Acosta, Executive Vice President and General Manager at Telered
❝

"Discover Global Network is bringing wide global acceptance, increased security, and technology to Sistema Clave while gaining acceptance access to Panama’s full network of merchants for our own global cardholders."

Alejandro Orestano, Vice President of International Markets at Discover

Our Take:

This partnership marks a significant advancement in Panama's payment ecosystem. By integrating Telered’s Sistema Clave with Discover Global Network, the collaboration offers a dual benefit: expanding global reach for Panamanian merchants and modernizing transaction technology for local consumers. The inclusion of contactless payments and digital wallets aligns with global trends, enhancing convenience and security. Furthermore, Project Clave 2.0 lays a strong foundation for sustained technological evolution, bridging local and international financial systems effectively.