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- First Hawaiian Bank's Merchant Network is the First Hawaii Bank to Accept Discover's BCcard
First Hawaiian Bank's Merchant Network is the First Hawaii Bank to Accept Discover's BCcard
DISCOVER OPENS ITS NETWORKS TO KOREA'S BCCARD AROUND THE WORLD
Honolulu, HI, April 28, 2011 – Discover Financial Services (NYSE: DFS) and BCcard, the leading payment network in Korea, today implemented an agreement providing BC Global Card members with the ability to use their cards on the Discover, Diners Club International and PULSE networks for purchases and cash access outside of Korea.
In a ceremonial transaction today, BCcard President and CEO Jong Ho Lee purchased a Hawaiian Koa wood bowl at the Halekulani Hotel in Honolulu to symbolize a new alliance that will result in increased transaction volume for Discover, added convenience for BC cardholders and expanded options for Hawaii merchants through First Hawaiian Bank. The transaction also marks the beginning of BC Global Card acceptance on Discover’s networks.
First Hawaiian Bank, the largest merchant card processor in Hawaii, will be the first Hawaii bank to accept the BC Global Card through its network of over 7,500 merchant locations as well as through its nearly 300 ATMs in Hawaii, Guam and Saipan. First Hawaiian merchant terminals have been BCcard enabled to accept the new BC Global Card. In addition to BCcards, all First Hawaiian merchants are able to accept JCB and China UnionPay cards as a result of the bank’s partnership with Discover. First Hawaiian was the first bank in Hawaii to accept China UnionPay cards at its merchants.
“This transaction signifies the importance of strategic alliances that open the door for domestic networks around the world to achieve increased global acceptance through Discover’s international network,” said Diane Offereins, president of payment services at Discover. “BCcard and First Hawaiian Bank are providing new options on Discover’s networks for merchants and cardholders around the world.”
BCcard is the largest domestic payments network in Korea, one of the world’s top credit card markets. Korean cardholders spent over $13 billion outside of Korea in 2010, according to the Korea Tourism Organization.
“Through our alliance with Discover, we are now offering BC Global Card members more flexibility to make purchases and access cash wherever they are traveling, especially in the U.S.,” said BCcard’s Lee.
Koreans were the fourth largest group of international visitors to Hawaii in 2009, with an average spend per trip of over $1,600, according to the Hawaii Tourism Authority.
“We are pleased to work closely with Discover to support their strategic alliances with China UnionPay, JCB and now BCcard,” said Bob Harrison, First Hawaiian Bank president and chief operating officer. “Visitors from Japan, China and Korea represent an important segment of our tourism industry both here and in Guam. As the first Hawaii bank to offer BC Global Card members the ability to make purchases here in the islands, we see this as a tremendous opportunity for our merchant clients to better serve their customers.”
For more than four years, Discover’s strategic alliances with China UnionPay and JCB -- and more recently with BCcard – have created valuable access to Discover’s acceptance footprint and delivered value and volume to merchants and partners.
Founded in 1982, BCcard operates the largest domestic payment network in South Korea with 11 member financial institutions and approximately 54 million cards issued on its proprietary platform and through dual-brand agreements. BCcard provides payment services for a complete range of institutions, from the financial sector through private enterprise and government agencies, on an end-to-end credit card business processing platform that encompasses card issuance and delivery, authorization and billing, merchant management, and payment and settlement. Its products include credit, check cards, pre-paid cards, international debit cards and post-paid transportation cards. For more information, visit http://www.bccard.com/company/eng/index.html
About First Hawaiian Bank
Founded in 1858, First Hawaiian Bank (www.fhb.com) is Hawaii’s largest and oldest bank offering our customers service, solutions and security for over 152 years. Consistently ranked in the top tier of all U.S. banks, First Hawaiian is a full-service bank providing personal, private and business banking services including equipment leasing, automobile financing, mortgage and commercial lending, merchant services, trust, insurance, wealth management and retirement planning. For generations, customers have come to rely on First Hawaiian for all of their financial needs. First Hawaiian, with $15.2 billion in total assets, has branches in Hawaii, Guam and Saipan and is a subsidiary of BNP Paribas, a leading global financial services institution.
Discover Financial Services (NYSE: DFS) is a direct 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 operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist 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 in more than 185 countries and territories. For more information, visit www.discoverfinancial.com.
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