Arab Financial Services and Discover Sign Network Alliance Agreement

First acceptance of Discover, Diners Club International and network alliance cards in 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 banks begin to issue AFS 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 opportunities for Discover and AFS,” said Matt Sloan, vice president of international markets at Discover. “By connecting with innovative payment 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.

About AFS:

As the brainchild of the MENA region’s banking sector, Arab Financial Services (AFS) exists to empower businesses and consumers by exploring, innovating and investing in superior technologies that help shape the future of financial experiences. Today, we are the region’s leading digital payment solutions provider and Fintech enabler. Owned by 37 banks and financial institutions, we serve over 75 clients in more than 20 countries. Our groundbreaking, end-to-end payment services and solutions span card processing, merchant acquiring, Fintech and a state-of-the-art value-added services suite. Our dedication to innovation has positioned us as a driving market force delivering a rich portfolio of payment solutions including popular digital mobile wallets: bwallet in Bahrain and eFloos in Oman; marketing-leading merchant acquiring services; Bahrain’s leading digital payroll solution Al Rateb; global Contact Centers and more. Providing the highest quality payments solutions that are trusted by businesses, we have been recognized as “Best Fintech Solutions Company 2019” and “The Most Innovative Fintech Solution Provider 2018” at the GCC Enterprise Awards and “Best Payment Service Provider – Bahrain 2017” by Global Banking and Finance Review.

Visit www.afs.com.bh for more information, and join the conversation on LinkedIn.

With over 30 years’ experience, AFS serves over 75 clients across the financial sector in more than 20 countries. Its end-to-end payment services and solutions span card processing, merchant acquiring, fintech and a state-of-the-art value-added services suite. AFS’ products and solutions within the Fintech space include bwallet, Bahrain’s leading mobile wallet; eFloos, the first-of-its-kind digital mobile wallet in the Sultanate of Oman and Al Rateb, Bahrain’s first digital payroll solution. In addition, AFS’ value-added services suite includes contact center solutions that offer multilingual 24/7 service with state-of-the-art e-ticketing technology and an outbound telemarketing set-up covering customers across the globe. AFS is owned by 37 banks and financial institutions and regulated by the Central Bank of Bahrain. With offices and data centers in Bahrain, UAE and Oman, AFS was the first processor in the region to become Payment Card Industry Data Security Standard (PCI DSS) 3.2 certified. Recipient of several global awards, AFS has also been recognized as “Best Fintech Solutions Company 2019” and “The Most Innovative Fintech Solution Provider 2018” at the GCC Enterprise Awards in addition to “Best Electronic Payment Service Provider Bahrain 2019” and “Best Payment Service Provider – Bahrain 2017” by Global Banking and Finance Review.

About Discover

Discover Financial Services (NYSE: DFS) is a digital banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home loans, checking and savings accounts and certificates of deposit through its banking business. It operates the Discover Global Network comprised of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance around the world. For more information, visit www.discover.com/company.

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