This collaboration brings together the capabilities of OmniPay, a non-bank financial institution (NBFI) and electronic money issuer (EMI) supervised by the Central Bank of the Philippines, and Discover Global Network, the payment brand of Discover Financial Services, the companies said in a press release.
With the new OmniPay Travel Card, which is a multicurrency prepaid card, cardholders can make payments to merchants and access cash at ATMs outside of the Philippines at locations where Discover and Diners Club International® are accepted, according to the release.
“Paired with a companion mobile app, cardholders can load and track their spending on the go across multiple currencies,” OmniPay President and CEO Simoun S. Ung said in the release. “This card is designed with world travelers in mind who want to control their out-of-country expenditures and foreign exchange exposure.”
Providing a solution for partners who want to offer their customers integrated travel-related benefits, the OmniPay Travel Card can also provide cardholders with airport lounge access, Wi-Fi, multicurrency settlement and other benefits, according to the press release.
Discover Global Network is accepted at 70 million acceptance points and millions of micro-merchants in 200 countries and territories, the release said.
“When consumers are traveling, they value being able to use their preferred payment method, continue to get great benefits and have access to millions of merchants and ATMs around the world, all things Discover provides with this partnership,” Discover Global Network Managing Director, Asia Pacific Annie Zhang said in the release.
In the payments industry, modernization of infrastructure and technology is critical to respond to changes in the market, Discover Global Network Vice President Judith McGuire wrote in an article posted in February.
Looking ahead to the rest of 2023, McGuire wrote that Discover Global Network would be focused on further modernizing its approach, bringing its infrastructure to the cloud, and leveraging application programming interfaces (APIs) and microservices to make it easier for all parties to connect and work with the network.
“As we navigate through this period of ‘new normal,’ having a modern foundation capable of leveraging the latest technology will make us nimble in response to change and continue to deliver for our partners and customers,” McGuire wrote.