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."