Sumitomo Mitsui Trust Club, a subsidiary and one of the group companies of Japanese lender Sumitomo Mitsui Trust Bank (SuMi TRUST), has become the exclusive issuer and acquirer of Japan’s Diners Club cards for Diners Club International.
Diners Club International forms part of the Discover Global Network that also includes Discover, PULSE and affiliated networks.
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SuMi TRUST agreed to take over Diners Club Japan franchise in March, pursuant to which it would oversee the Diners Club Japan brand as well as manage the issuing and acquiring business in the country.
Commenting on the deal, Sumitomo Mitsui Trust Club president Koji Nohara said: "Through the work between Diners Club and SuMi TRUST, we will improve the service quality to our mutual customers.
"SuMi TRUST CLUB will provide high quality credit card services, with superior value propositions to SuMi TRUST customers, and we believe that SuMi TRUST’s customers will respond well to Diners Club Japan’s offerings."
Discover payment services president Diane Offereins added: "The Japanese market has been and continues to be an integral part of our global footprint. With the support and access to the affluent consumer segment provided by SuMi TRUST, I’m confident we will take the Diners Club Japan business to the next level."
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