On May 14-15, the Discover® Global Network Global Commercial Payments Summit 2024 was successfully held in Rome, where PhotonPay, as a Discover® Global Network strategic partner and the first Fintech card issuer in Greater China, was invited to discuss the future of payments and how to utilize payments to drive the growth of global commerce.

The summit brought together a number of renowned industry partners, including Discover® SVP Global Product Judith McGuire, Discover® SVP International Market Ricardo Leite, Discover® Director Brand Communications Elizabeth Porter, Discover® Global Network Managing Director & Head of APAC Chris Winter and other executives.

With the theme of "Travel & B2B: Connecting the Dots for Sustainable Growth", Discover shared the latest business products and solutions around the global tourism industry and B2B payment, and discussed the digitalization and globalization trends of Fintech in the form of sharing and conversation.

Despite the rapid evolution of digital payments and remote commerce technologies, it's unfortunate that so many organizations are still stuck with traditional, slow payment methods, which can be a stumbling block to expanding their business and attracting new customers. According to an authoritative Discover report[1], a whopping 62% of companies worldwide still use cash payments for business transactions. Significantly, 67% of large enterprises have indicated that they plan to invest in business payment solutions in the next 12 to 24 months, a move that is not unexpected as companies are eager to optimize their business processes and increase their competitiveness in the marketplace by adopting advanced payment technologies.

In order to better respond to this trend, PhotonPay, the world's leading innovative global payment PaaS platform, and Discover® Global Network continue to deepen their strategic cooperation to maximize FinTech's empowerment of overseas enterprises and bring merchants more secure and convenient payment solutions.

The Discover® Global Network is recognized as one of the fastest-growing global payment networks, with a card portfolio that includes the Discover® Card, Diners Club International® and other affiliate network cards, more than 70 million merchant acceptance points and millions of micro-merchants in more than 200 countries and territories[2]. 

PhotonPay's seamless direct connection with Discover® Global Network not only represents the recognition of another top financial institution in the world, but also brings a series of substantial development dividends and broad opportunities for many global enterprises in cross-border e-commerce, foreign trade B2B, international logistics, air travel, advertising, digital entertainment, live broadcasting and gaming. By choosing PhotonPay, you are embarking on a new journey with Discover. Our global system connects you seamlessly to Diners Club International and the Discover Card Organization, as well as a network of more than 20 partners around the world. From now on, you'll be able to easily accept payments from Discover® Card, Diners Club International® Card, and more than 25 affiliated network cards from the U.S. and share in hundreds of billions of dollars in global transaction volume.

As the first Fintech issuer of the Discover® Global Network in Greater China, PhotonPay Discover® Card and Diners Club International® payment solutions, the business card is tailored for international businesses and is designed to provide a more secure, transparent and faster B2B and B2C payment experience.

As an innovative global payment PaaS platform in the field of Fintech, PhotonPay has always taken the vision of building a global digital financial infrastructure. We have established close cooperation with world-renowned banks and financial institutions to build up a strong payment network, and continue to use cutting-edge technology to promote product innovation, in order to enhance the ability to provide safer, more efficient, more convenient and integrated global payment solutions for all kinds of large-scale enterprises. 

In the future, PhotonPay will continue to work closely with the Discover® Global Network to meet the challenges posed by the expansion of global commercial payments and bring more growth opportunities to cross-border businesses.