SIBS MB and Discover sign strategic agreement to increase payment acceptance

By Pavithra R

SIBS MB and Discover, announced signing a strategic agreement that increases the global acceptance footprint for both organizations.

The new agreement gives Discover, Diners Club International and network alliance cardholders the ability to use their cards on the SIBS MB network at merchant and ATM locations across Portugal. The agreement will also allow members of SIBS MB to issue MB cards that will be accepted on the Discover Global Network for international purchases and cash withdrawals outside Portugal and providing access to more than 50 mn outlets in 200 countries and territories via the Discover Global Network.

“This strategic partnership with Discover reinforces SIBS’ continuous efforts to offer multiple payment options on a global scale. We believe that this new alliance with the Discover Global Network will grant tourists a compelling shopping experience in our country, while introducing new options and increasing the choices for banks and MB cardholders. This strategic partnership focuses on acquiring to allow all Discover Global Network cards to be accepted through the MB network, and on allowing SIBS MB issuers to issue MB cards that will be accepted on the Discover Global Network for international purchases and withdrawals outside of Portugal,” said SIBS MB Chief Executive Officer, Ana Grade.

The agreement also enhances SIBS MB’s strategy to grow the number of payment options available to its members and provide more choices to consumers on how they want to pay.

“Through alliances with strong regional payments networks such as SIBS MB, Discover is able to provide our partners with the global reach, technical solutions, scale and the independence that they value. We have many existing partners with cardholders that regularly spend in Portugal who will benefit from the dramatic increase in acceptance,” said Matt Sloan, vice president of international markets at Discover.