Discover’s business unit Diners Club International has partnered with Russian Standard Bank (RSB) to form a new franchise in Russia.
Under the agreement, RSB will assume all responsibility for the Diners Club brand and business in Russia and the Ukraine in issuing and acquiring.
RSB is the largest credit card issuer in Russia with over 150 branches and 30m customers.
“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 RSB, with their wealth of experience in both issuing and acquiring, will help us meet our aggressive growth goals in Russia.”
Diners Club International is accepted in more than 185 countries and territories, millions of merchant locations and provides access to over 800,000 ATMs.