The U.S. played host this week to the first cross-border transaction for Brazil's Elo credit card through a partnership with Discover Financial Services, enabling global acceptance to one of Brazil's largest card brands.
Through a deal announced a year ago, Elo's 95 million cards are now accepted at 185 countries included in the Discover Global Network, headquartered in Riverwoods, Ill.
The Elo brand, created more than 50 years ago, relaunched in 2011 issued by Banco do Brasil, Bradesco and Caixa Econȏmica Federal. The card targets upscale consumers who travel often and shop online, Discover said in a July 26 press release.
The U.S. is one of the top destinations for Brazil's frequent travelers, who spent $17.3 billion last year when traveling outside the country, Discover said. Brazil's cross-border e-commerce volume was $18 billion in 2015, and U.S.-based companies accounted for 72% of those purchases.