Kazkommertsbank to Be the Exclusive Issuer and Acquirer for Diners
Club in Kazakhstan
RIVERWOODS, Ill. & ALMATY, Kazakhstan--(BUSINESS WIRE)--
Diners Club International Ltd., as part of Discover Global Network, and
JSC Kazkommertsbank, one of the largest acquirers and credit card
issuers in Kazakhstan, will commence Diners Club card business
operations in Kazakhstan.
Kazkommertsbank will be the exclusive acquirer in Kazakhstan for Diners
Club and other cards issued on Discover Global Network, which is made up
of Discover Network, Diners Club and PULSE. The deal will enable
acceptance at over 42,000 POS-terminals and 2,266 ATM locations
throughout the country. Kazkommertsbank will also be the exclusive
issuer of Diners Club cards in Kazakhstan, and is expected to begin
issuing cards later this year.
“Kazakhstan is in a prime location for facilitating trade among
countries throughout Asia and Europe, making it a pivotal country to
help increase Diners Club’s presence in the region,” said Matt Sloan,
managing director, Discover – Europe, Middle East and Africa. “Working
with Kazkommertsbank will not only expand our global footprint, it will
also allow Discover Global Network cardholders to use their cards
throughout the country.”
“Our collaboration with Diners Club is another step toward the
integration of Kazakhstan into the global economy, which increases the
growth of tourism potential in our country,” said Nurlan Zhagiparov,
managing director, Kazkommertsbank. “In the near future, Kazakhstan will
become more attractive to foreign visitors thanks to significant events
such as The Universiade 2017 and EXPO-2017. Expecting a great inflow of
foreign tourists and business travelers, we try to provide them with the
comfort they are accustomed to in settlements and payments. The
additional benefit from collaboration with Diners Club is that the
holders of cards issued for local payment systems of India, South Korea
and certain other countries could be serviced via Discover Global
Network. Which means that upon arrival to Kazakhstan they would be able
to use their cards.”
A globally-recognized product, Diners Club cards are accepted in more
than 185 countries and territories, millions of merchant locations and
at more than 1 million ATMs and cash access locations.
About JSC Kazkommertsbank
Kazkommertsbank
is one of the largest banks in Kazakhstan and Central Asia. The Bank's
assets as at November 30, 2015 amounted KZT 4 801 bn. The Bank has
subsidiaries operating in the field of investment portfolio management,
insurance and brokerage services. The Bank also has subsidiary banks in
the Russian Federation and the Republic of Tajikistan. Bank’s main
shareholders are: “Central Asian Investment Company” JSC, Mr. N.S.
Subkhanberdin, “Qazaq Financial Group” JSC (former “Alnair Capital
Holding” JSC), “NWF “Samruk-Kazyna” JSC, Mr. K.Kh. Rakishev
The Bank's shares are listed on the “Kazakhstan Stock Exchange” JSC
(KASE). Global depositary receipts, the basic asset of which is the
Bank's shares (GDR) are listed on the London Stock Exchange (LSE). The
Bank was the first among the CIS banks completed an IPO in GDR form on
the London Stock Exchange in November 2006, totaling USD 845 mln. For
more information, visit www.kkb.kz.
About Diners Club International Ltd.
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 700 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.
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 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.
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Source: Discover Financial Services