RIVERWOODS, Ill. & MOSCOW--(BUSINESS WIRE)--Diners Club International®Ltd., a business unit of Discover Financial Services (NYSE: DFS), and Russian Standard Bank (RSB), a leading consumer lender in Russia, today announced an agreement to form a new Diners Club International franchise in Russia. RSB will assume all responsibility for the Diners Club brand and business in Russia and Ukraine in issuing and acquiring.
Russian Standard Bank is the largest credit card issuer in Russia with over 150 branches, 30 million customers and a strong reputation for innovation.
"This is the start of a great partnership and we are excited to be able to bring Diners Club to Russian customers. Our relationship with Diners Club International provides a unique offer to our merchant partners in our acquiring business. We look forward to working with our merchant partners to build the brand in the region," said Dmitry Levin, Chairman of RSB.
As a globally recognized brand, Diners Club International is accepted in more than 185 countries and territories, millions of merchant locations and provides access to over 800,000 ATMs. The company offers best-in-class features and benefits and a network of unique customer and merchant services.
"The Russian and Ukrainian markets represent a great opportunity for a premium global payments brand like Diners Club," said Rajive Chadha, President of Diners Club International. "We feel strongly that partnering with a reputable financial institution such as Russian Standard Bank, with their wealth of experience in both issuing and acquiring, will help us meet our aggressive growth goals in Russia."
About Diners Club International
Diners Club International is owned by Discover Financial Services (NYSE: DFS), a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Established 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 400 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 over 800,000 cash access locations and ATMs, Diners Club is uniquely qualified to serve its cardmembers all over the world. 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 operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of 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.discoverfinancial.com.
About Russian Standard Bank
Russian Standard Bank was founded in 1999. Currently, Russian Standard Bank occupies a leading position in consumer lending. Within ten years, the Bank has created new standards of consumption in Russia. With its consumer lending programs, the Bank has attracted more than 30 million customers, and the volume of credit provided has exceeded 30 billion US dollars. During the last three years, Russian Standard Bank issued more than 30 million bank cards. In addition to credit and savings products, the Bank offers settlement products and services, namely: current accounts, payments and transfers and remote service channels. The Bank also focuses on innovative and technological services, providing Internet banking and Mobile banking services. Since 2005, the Bank has been issuing American Express Cards and acquiring merchants on to the American Express network in Russia. More detailed information is available at www.rsb.ru.