RIVERWOODS, Ill. & HANOI, Vietnam – Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) today signed an agreement to become the issuer of Diners Club cards in Vietnam, expanding its existing acquiring relationship with Diners Club International Ltd., a business unit and wholly-owned subsidiary of Discover Financial Services and a part of the Discover Global Network.
This agreement will focus on expanding VietinBank’s card issuing portfolio in Vietnam. Diners Club offers VietinBank and its cardholders, with a focus on international and business travelers from Vietnam, a compelling, new and comprehensive suite of products and features such as access to more than 800 airport lounges and worldwide acceptance.
“Vietnam is a fast-growing market that is critically important for Diners Club International to further expand our presence in Asia," said Joe Hurley, senior vice president and head of global business development for Discover. "We are excited to open up the vast Discover Global Network to Vietnamese travelers when they are using their VietinBank Diners Club card while abroad.”
According to Phung Duy Khuong, Head of Retail Banking, “Our partnership with Diners Club International will help us accelerate our product mix in the market and provide more choice to our customers in Vietnam. Diners Club will allow us to boost our credit card line-up and enhance our services to our clients by providing global access and solutions that make business and international travel more efficient.”
Discover Global Network, which includes Discover, Diners Club International, PULSE and affiliated networks, features more than 70 million cardholders, 37 million merchant acceptance locations and one million ATM and cash access locations across 185 countries and territories.
Diners Club International is a part of Discover Global Network, and has over 26 million merchant acceptance locations and 1.9 million ATM and cash access locations across 185 countries and territories. Discover Global Network also includes Discover, PULSE and affiliated networks.
VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE was established in 1988 and our vision to become the largest bank in terms of total assets and the most effective bank in terms of performance in the banking industry of Vietnam, to aim at becoming a modern and universal financial and banking group that conforms to international standards.
Now, VietinBank is a leading bank, a pillar of the Vietnamese banking industry with a nationwide network of 155 branches scattering in 63 provinces and cities all over the country with over 1000 transaction offices/Provident Funds; 2 branches in the Federal Republic of Germany and 1 subsidiary bank in the Lao People's Democratic Republic; 2 representative offices in Ho Chi Minh city and Danang city; 1 representative office in Myanmar. VietinBank has relationships with over 1000 correspondent banks in more than 90 countries and territories world-wide.
For more information, please visit: https://www.vietinbank.vn/.
About Diners Club International Ltd.
DEstablished in 1950, Diners Club International became the first multi-purpose charge card in the world, launching a financial revolution in how consumers and companies pay for products and services. Today, Diners Club is a globally-recognized brand serving the payment needs of select and affluent consumers, offering access to more than 800 airport lounges worldwide, and providing corporations and small business owners with a complete array of expense management solutions. With acceptance in more than 185 countries and territories, millions of merchant locations and access to more than 1 million cash access locations and ATMs, Diners Club, as a part of the Discover Global Network, is uniquely qualified to serve its cardmembers all over the world. Diners Club International is a wholly owned subsidiary of Discover Financial Services (NYSE: DFS), a direct banking and payment services company with one of the most recognized brands in U.S. financial services. For more information,visit www.dinersclub.com.
Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America's cash rewards pioneer, and offers private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discover.com/company.