(The new partnership will) form a new Diners Club International franchise in Russia. RSB will assume all responsibility for the Diners Club brand and business in Russia and Ukraine in issuing and acquiring.
“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 Russian Standard Bank, with their wealth of experience in both issuing and acquiring, will help us meet our aggressive growth goals in Russia.”
Discover Financial Services has been steadily expanding its international market presence through its Diners Club brand which the company acquired in July 2008. This week, it announced that it is entering the Russian market through a major partnership with Russia Standard Bank (RSB).