Euro Asia Pay Company has entered into an agreement with Discover Global Network to power EAP’s soon-to-launch Hero Financials product in the United States.
Pursuant to the agreement, EAP and Discover will facilitate joint programs via issuers of prepaid cards in the U.S. for acceptance on the Discover Network. Hero Financials is EAP’s full-service alternative-to-banking solution that allows guardians to provide funds to their dependents easily while monitoring payments and promoting financial literacy for the next generation of consumers.
The partnership with Discover will aid EAP’s expansion strategy in the U.S. and provide reliable choices to consumers for more secure payments. A recent study featured in Business Insider indicated that the purchasing power of Gen Z in the U.S. is expected to exceed $140 billion as it becomes the largest generational cohort, and tapping in this market will allow EAP’s latest product, Hero Financials, to provide U.S. customers with a safer, user-friendly, and reliable product with parental control features.
Peter McKay, CEO of EAP, commented, “This partnership will enable us to leverage a spectrum of payment capabilities as Discover has a significant market share and is accepted at millions of points of sales solutions and cash-access locations. We believe that this will grant our future Hero cardholders added freedom and choice with regard to how and where they can pay. EAP is committed to empowering its customer base with seamless access to innovations, convenience and financial literacy.”“Partnering with EAP complements our goal of providing the next generation of consumers with more payment choices and products to encourage life-long financial skills,” said William Dulin, Vice President, Network Solutions, at Discover. “With Discover cards being accepted at 99% of merchants in the U.S. that take credit cards*, this partnership will further equip EAP with access to a highly dynamic market and customer base.”
