RIVERWOODS, Ill. & BEIJING--(BUSINESS WIRE)--Aug. 9, 2012--
Diners Club International® Ltd., a business unit of Discover Financial
Services (NYSE: DFS), and Industrial and Commercial Bank of China
(ICBC), the largest credit card issuer in China, today announced plans
to bring a new Diners Club International franchise to the Asia Pacific
region.
As part of the agreement, ICBC will operate as the first full franchise
in China and is responsible for both the Diners Club brand and business
in issuing and acquiring. In terms of total assets, ICBC is one of the
largest banks in the world.
“As the world’s largest card market with 3.1 billion cards in
circulation, China is critically important to us as we continue to
expand our global footprint,” said Diane Offereins, EVP and President of
Payment Services at Discover Financial Services. “ICBC’s well-respected
brand, successful banking operations and significant influence in China
make them an attractive partner for us, and we believe their customers
will benefit from the international network and services that Diners
Club provides.”
As a globally-recognized brand, Diners Club International is accepted in
more than 185 countries and territories, in millions of merchant
locations and in more than 845,000 ATMs and cash access locations all
over the world. The company offers best-in-class features and benefits
and a network of unique customer and merchant services.
“The mission of ICBC has always been to provide excellent services to
our customers and the launch of Diners Club cards will further enhance
and optimize the product offerings of ICBC, meet the individual needs of
customers, and provide more diverse scope of services to the
cardholders,” said Mr. Li Xiaopeng, Executive Director, Vice
President of Industrial and Commercial Bank of China. “The signing of
our partnership agreement will bring mutual benefits and a win-win
opportunity to both Industrial and Commercial Bank of China and Diners
Club International, and will effectively enhance and elevate the market
influence of both brands.”
This announcement comes on the heels of the U.S.-China Foundation for
International Exchanges’ recent presentation of the prestigious Marco
Polo Award to David Nelms, Chairman and CEO of Discover. The award
recognizes the most visionary corporate friends of China and is the
highest honor given to a foreign business leader.
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 as well as providing companies with payments
solutions. With acceptance in more than 185 countries and territories,
millions of merchant locations and access to over 845,000 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.
About Discover
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 Industrial and Commercial Bank of China
Industrial and Commercial Bank of China is the largest commercial bank
in China with 408,859 employees under payroll at the end of 2011. ICBC
provides a wide range of financial products and services to 4.11 million
corporate clients and 282 million individual customers through 16,648
outlets across China, 239 overseas subsidiaries and a global network of
more than 1,669 correspondent banks as well as Internet Banking,
Telephone Banking and Self-service Banking. ICBC is the largest bankcard
issuer in China with more than 400 million ICBC cards in force. In 2011,
ICBC received many awards including "Best Bank in China", "Best Retail
Bank in China", "Best Commercial Bank of Asia", "Bank of the Year",
"People's Award for Social Responsibility", and "Most Welcomed Bank of
the Year".
Source: Discover Financial Services
Media Contacts:
Diners Club International
Katie Henry,
224-405-4437
kathrynhenry@discover.com
or
Industrial
and Commercial Bank of China Card Center
Ms. Li Ang, 86-10-6642-3869
liang@mdk.icbc.com.cn