Elo, the Brazilian card brand, announced on Tuesday (July 26) it has conducted its first transaction outside of the country. The transaction with the Elo card was in the U.S. on the Discover Global Network, and the company said it shows the card is being accepted in the U.S.
“Brazilians continue to increase their international travel, and we are excited to help them make purchases while traveling in the U.S. and elsewhere throughout the world,” said Diane Offereins, president of payment services for Discover, in a press release. “We have worked with Elo to ensure those with Elo Global Cards can enjoy the benefits of global acceptance on our network while traveling outside of Brazil.”
The Elo Global Card is issued by Banco do Brasil, Bradesco and Caixa Econômica Federal and will be used for purchases and cash withdrawals outside of Brazil on the Discover Global Network. The Discover Global Network includes Discover Network, Diners Club International, PULSE and affiliated networks. According to the company, the first transaction outside of Brazil was made by Eduardo Chedid, president of Elo.
“The possibility of using our new credit card outside of Brazil is very important for customers with higher purchasing power, and therefore, we are ready to meet the needs of such clients in a comprehensive way through our partnership with Discover,” said Chedid in the release.
The Elo Global Card was launched to meet the demand of Brazilian travelers and online shoppers who make purchases outside of the country. According to Elo, Brazilians spent $17.3 billion last year traveling outside of the country, with the U.S. being the preferred destination. The cross-border spend of Brazilians was $18 billion in 2015, with Elo saying 72 percent of those purchases were made in the U.S. That number is projected to increase to $25 billion by 2018.