The Minister of Commerce and Industries (MICI), Julio Moltó, celebrated the recent alliance between the Telered and Discover Global Network payment processing networks, which aims to strengthen the electronic payment ecosystem in Panama through the evolution of the Key System.
This collaboration not only promises to consolidate the payment infrastructure in the country, but also to strengthen the growing interest in Panama as a center of financial innovation, positioning it among the economies that are moving rapidly towards the digitization of payments, said Minister Moltó.
Telered, through the Key System, has served for 33 years more than 2.4 million cardholders throughout the country, who trust in the security of this payment system, specifically designed to meet the needs of the Panamanian market. For its part, Discover Global Network is one of the largest networks of credit, debit card and strategic alliances franchises globally.
This agreement promises to have a positive impact on both local commerce and card users. An example of the immediate benefits is the tourism sector: more than 340 million Discover customers will be able to make purchases in the stores that operate with the Key System during their stay in Panama, as well as withdraw cash at the available ATMs.
With this alliance, Key System users will also be able to make purchases and payments at more than 70 million global acceptance points, including online stores and streaming platforms. In addition, they will be able to access cash withdrawals at more than 1.8 million ATMs worldwide, through the Discover network.
Minister Moltó highlighted the dynamic impact of this agreement on the Panamanian economy, underlining how it contributes to the strengthening of its competitiveness in an increasingly interconnected environment. The alliance opens new doors to economic opportunities, promoting innovation and development in the country.
The presentation of the alliance was attended by senior executives from both companies, government authorities, representatives of business unions and Telered customers, among other special guests.