by NR INDRAN / INT

Mumbai : HDFC Bank, the second largest private bank in India, and Diners Club International® Ltd., a business unit of Discover, today announced a strategic alliance whereby HDFC Bank will issue Diners Club International credit cards in India. The Bank will also provide merchant acquiring services, thereby creating more acceptance opportunities for the Diners Club brand in India.

With this strategic alliance, the aspirational and elite Diners Club brand will join hands with Asia’s Strongest Bank to reach out and serve the payment needs of India’s rapidly growing affluent class. This will help HDFC Bank, which is already India’s largest credit card issuer, to further extend its foray into the super premium segment to address the uber rich clientele.

Pralay Mondal, Country Head, Retail Assets and Credit Cards, HDFC Bank, said: “HDFC Bank enjoys the highest mind and wallet share in credit cards in India. To add to that, HDFC Bank and Diners Club will now form a powerful combination that has the potential to redefine the lifestyle experience of the Indian elite with its global reach, exclusive privileges and customized personal services.”

“Our strategic partnership with HDFC Bank demonstrates our continued commitment to expanding our brand in India, which is recognized as one of the world’s key emerging markets,” said Rajive Chadha, President of Diners Club International, a subsidiary of Discover. “We know that HDFC Bank and its customers will benefit from the international network provided by Diners Club International, as well as access to millions of merchant locations and more than 800,000 cash access locations and ATMs.”

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