Cards for Discover Financial Services will be issued in Europe for the first time through an expanded partnership between the credit card company and Russian Standard Bank.
Russian Standard will become the exclusive partner for issuance, acceptance and promotion of Discover cards in Russia, the Riverwoods, Ill., card company said Tuesday. The financial terms of the agreement were not disclosed.
Discover has been working to increase its presence abroad. In March, it said its credit cards would be issued outside of the U.S. for the first time with a new deal in Ecuador. Discover has also signed several network partnership deals in the recent years, including ones with India's RuPay network and the operator of Puerto Rico's ATM and debit network.
Last year Russian Standard became the exclusive strategic partner for Discover by issuing and servicing Diners Club International cards in Russia. Discover bought the Diners Club network in 2008.
"Our partnership with Russian Standard Bank, the largest credit card issuer in Russia, as a DCI issuer and acquirer is helping us meet our aggressive growth goals in Russia," Diane Offereins, president of payment services at Discover, said in a news release. "We are thrilled to extend our presence there and work with RSB to issue Discover cards, representing the next milestone of a relationship that has been mutually beneficial."