Issuance of the Russian Discover card has been underway for more than a month. The card, a partnership between Russian Standard Bank and Discover Financial Services, was announced in September.
The new card offers cashback bonus for purchases made in certain merchant categories, similar to the U.S. Discover card.
Three years ago, Russian Standard Bank became an exclusive partner of Discover Financial Services and became an issuer of Diners Club International cards in the Russian Federation and Ukraine. In September 2012, during the opening ceremony of the first Diners Club Lounge and Russian Standard bank office in Moscow, Russian Standard Bank and Discover Financial Services signed a long-established agreement.
Discover also plans to enter the Chinese market this summer by issuing the ICBC corporate card.
Meanwhile, payments volume for Diners Club International declined 1.0% last year to $26.9 billion and decreased 5% year-on-year in the fourth quarter to $6.8 billion, according to CardData.com
Acquired by Discover Financial Services in July 2008, the international card has consistently hovered between $6.5 billion and $7.0 billion in quarterly payments volume. In 2009 Discover and its franchises launched a major marketing initiative to revitalize the brand. Since acquiring the Diners Club, Discover has been aggressively expanding acceptance and now pouching hard into Russia and China.
For more information on Discover and Diners Club visit CardData or the CardFlash Archives.