Diners Club International ® Ltd., a business unit of Discover Financial Services (NYSE: DFS), and Cornèr Bank Ltd., a Swiss banking institution and, via its payment card division Cornèrcard, a leading player in the Swiss card payment industry, today announced an agreement to form a new Diners Club International franchise in Switzerland.
As part of the agreement, Cornèrcard will operate a Diners Club issuing business in Switzerland. Cornèrcard is one of the largest issuers of payment cards in the Swiss market and is well known for its innovative and pioneering approach to the card payments landscape in Switzerland.
“Switzerland is a key market for Diners Club International to further expand its presence,” said Eduardo Tobon, President of Diners Club International. “We believe Cornèrcard is the right card issuer to help us execute on this goal with its long and successful history of innovation having pioneered the payments industry in Switzerland.”
A globally-recognized product, the Diners Club card is accepted in more than 185 countries and territories, in millions of merchant locations, and at more than 1 million ATMs and cash access locations.“Both Diners Club International and Cornèrcard look back on a history spanning several decades in the area of cashless modes of payment and we are delighted to have the opportunity to carry on the pioneering spirit of Diners Club,” said Alessandro Seralvo, Director, Cornèrcard. “Diners Club cards are an ideal supplement to our existing card issuing portfolio.” About Diners Club International Diners Club International is owned by Discover Financial Services (NYSE:DFS), a direct banking and payment services company with one of the most recognized brands in U.S. financial services. 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 500 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 is uniquely qualified to serve its cardmembers all over the world. For more information, visit www.dinersclub.com. About Cornèr Bank Ltd. Founded in Lugano in 1952, Cornèr Bank is a private and independent Swiss banking institution. In 1975 it was the first bank in Switzerland to launch the Visa credit card. Through ongoing innovation it contributed significantly to helping shape Switzerland’s credit card landscape. In 1998 Cornèr Bank/ added the MasterCard card to its portfolio. Cornèrcard offers a wide range of credit and prepaid cards based on state-of-the-art technologies and is considered today as one of the pioneers in the Internet area as well. Cornèr Bank was one of Europe’s first banking institutions to introduce the standards of secure e-commerce and continues to develop its services in the area of e-commerce and mobile commerce.