RIVERWOODS, Ill. & PHNOM PENH, Cambodia--(BUSINESS WIRE)--Diners Club International, Ltd., a business unit of Discover Financial Services and part of Discover Global Network, and ACLEDA Bank Plc., Cambodia’s largest banking institution, today announced a signed agreement that will grow Discover and Diners Club card acceptance in Cambodia.
ACLEDA Bank Plc. added acceptance of Discover and Diners Club cards to its payments processing services portfolio, which includes ATMs, this month.
“Discover’s international roadmap is concentrated on building strong merchant acceptance for our cardmembers travelling or living abroad,” said Gerry Wagner, vice president, Discover Network. “Annual tourist and business travel to Cambodia has nearly doubled in the last five years, and our relationship with ACLEDA Bank Plc. enables us to continue reaching our growth objectives while providing merchant acceptance to the places our cardmembers visit most.”
Discover Global Network is the third largest payments network in the world and the largest merchant acceptance network in Asia-Pacific. With more than 21.5 million merchant acceptance locations and 1 million ATM and cash access locations across 185 countries and territories, Discover Global Network includes Discover, Diners Club International, PULSE and its affiliated networks.
“ACLEDA Bank Plc. is delighted to be a strategic partner with Diners Club International, Ltd. Proudly a part of Discover Global Network, the third largest payments network in the world and the largest merchant acceptance network in Asia-Pacific,” said Dr. In Channy, president & group CEO of ACLEDA Bank Plc. “This agreement will enable Discover and Diners Club customers and cardholders payment acceptance in Cambodia provided via ACLEDA Bank Plc.'s ATMs and merchants.”
About ACLEDA Bank Plc.
ACLEDA Bank Plc. has sustainably providing financial products and services for more 22 years for all segment of the community – both private and public sectors through 252 branches throughout Cambodia, and via electronic infrastructure network globally; and it has four subsidiaries: ACLEDA Securities Plc., ACLEDA Training Center Ltd., ACLEDA Bank Lao Ltd. (41 branches and offices in Laos) and ACLEDA MFI Myanmar Co., Ltd. (6 branches and offices in Myanmar) with the bank's assets of USD 2.79 billion by the end of August 2014. And strategically, ACLEDA Bank Plc. is in the partnership with Japanese Bank, Sumitomo Mitsui Banking Corporation (SMBC), and British Life Assurance Company, Prudential (Cambodia) Life Assurance Plc. and others. It has 484 correspondent banks with their branches around the globe. For more information, visit: www.acledabank.com.kh
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.
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.