Business Intelligence on Retailing, Franchising, and Consumerism in China

Diners Club Inks Chinese Bank Deal For Credit Card Expansion

Diners Club International Ltd., a business unit of Discover Financial Services, and Industrial and Commercial Bank of China 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.

"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."

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.

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