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TheStreet Open House

Diners Club International And Bangkok Bank Announce Merchant Acquiring Agreement In Thailand

Diners Club International Ltd., a business unit of Discover Financial Services and part of the Discover Global Network, and Bangkok Bank, a leading bank in Southeast Asia, will go live with merchant acquiring in Thailand.

Under the agreement, merchants using the Bangkok Bank terminal network will be able to accept Diners Club International, Discover, BC Global, DinaCard and RuPay cards, which are all part of the Discover Global Network.

"By opening up our Discover Global Network to Bangkok Bank's extensive merchant network, we are strengthening our acceptance footprint throughout Southeast Asia,” said Diane Offereins, EVP and President of Discover Payment Services. "Thailand, especially Bangkok, is a top destination for international travelers. As the Discover Global Network expands farther throughout the region and the world, we're meeting our cardmembers' travel needs wherever they want to go.”

The Discover Global Network is the third-largest payments network in the world, operating in more than 185 countries.

“Cards running on the Discover Global Network offer many benefits, which include cashback, rich rewards, no foreign exchange fees and access to airport lounges,” said Mr. Shoke Na Ranong, Executive Vice President, Card Division Head, Bangkok Bank. “The cards are used by corporations and government organizations for employees’ business expenses and have the best-in-class corporate-reporting and expense-management tools. We feel that this means that these corporate cardholders prefer to frequent merchants that accept their cards.”

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 nearly 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 Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company issues the Discover card, America’s cash rewards pioneer, and offers home loans, private student loans, personal loans, home equity loans, checking and savings accounts, certificates of deposit and money market accounts through its direct banking business. It operates the Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation’s leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit www.discover.com/company.

About Bangkok Bank

Bangkok Bank is Thailand’s largest commercial bank by assets and one of the leading banks in Southeast Asia, with assets of over USD 85 billion and more than 17 million customer accounts. It has more than 1,100 branches and 230 business centers across Thailand, as well as an expanding international network of 27 branches and one representative office in 13 economies.

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