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Media Release - 13 07 2012

Diners Club solution delivers full acceptance with launch of dual charge card products

  • One Account, one solution - Diners Club and MasterCard® providing rich rewards and benefits, plus unmatched global acceptance
  • Rich rewards program

July 13, 2012: Diners Club has teamed with MasterCard to launch Australia's first dual charge card product, offering rich rewards as well as full merchant acceptance for Diners Club Members.

The Diners Club dual charge card solution provides Members with two cards for one account: a Diners Club card and a World MasterCard® card providing cardholders access to one of the country's best reward programs and now delivering the convenience of worldwide acceptance at more than 33.3 million locations across the globe with MasterCard.

Richard Wilde, Head of Diners Club Australia, said, "The new product overcomes acceptance issues by providing Diners Club Members with a convenient Companion MasterCard giving them access to worldwide acceptance. We firmly believe that by combining full acceptance with the excellent rewards for which Diners Club is known, we have the country's best payment solution for our customers."

Diners Club has launched four products with the added Companion MasterCard feature: the Diners Club Corporate Solution, the Diners Club Business Solution and two products for individuals; the Diners Club Frequent Flyer direct earn and the Diners Club Personal Card.

Andrew Cartwright, Country Manager MasterCard Australia, said "In line with our ongoing commitment to product innovation, we are pleased to extend the suite of MasterCard products available to Diners Club Members. The new World MasterCard cards will ensure that Members now have the opportunity to maximise reward points balances with every purchase as well as get access to MasterCard's unmatched global acceptance."

The product is expected to appeal to affluent consumers who are financially savvy, and increasingly recognise the opportunity to be rewarded for using their own money.

"The current high levels of savings are a sign that consumers increasingly prefer to use their own money to pay," Mr Wilde said. "The Diners Club charge card solution provides direct competition for debit card products by allowing members to use their own funds while benefiting from a rich rewards program."

Similar to credit and debit cards, charge cards provide a convenient payment solution but have no pre-set spending limit and the balance must be paid in full at the end of each payment cycle.

The Diners Club Personal product provides rich reward points on all expenses. The rewards program is uncapped and there is no pre-set spending limit giving cardholders the opportunity to maximise reward points balances with every purchase.

As a World MasterCard cardholder, customers will benefit from upgrades and exclusive offers including VIP treatment and exclusive benefits at the best hotels, restaurants, events and stores.

These new privileges compliment the already feature-rich Diners Club product in market today. Frequent travellers benefit from entry to over 450 international airport lounges, travel insurance and a discounted limousine service.

One account with a single PIN and consolidated statement, both online and paper, also positions Diners Club as leading in market.

"This product provides consumers with a value-for-money solution when paying with their own funds. We believe when consumers review their current card products and weigh up the merits, they will find this particularly attractive," said Mr Wilde.

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Media Contact:

Judy Hitchen Tel: +61 2 8225 1643 Email: Judy.Hitchen@citi.com
Natalie Goodrick Tel: +61 2 8225 1631 Email: Natalie.Goodrick@citi.com

Diners Club:

Diners Club is Australia's only specialist charge card company, providing innovative payment and financing solutions to the personal, corporate and business sectors. Diners Club offers a range of charge cards. Charge cards differ from credit cards as they have no pre-set spending limit and the balance must be paid at the end of each payment cycle.

The company is renowned by both personal cardholders for its market leading rewards program and superior customer service and by business cardholders for Diners Club's GST reporting solutions and tailored expense management systems.

Citigroup is the sole shareholder and owner of Diners Club Australia and is part of the Citi family of companies.

Additional information may be found at www.dinersclub.com.au

Citi:

Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

In Australia, Citi serves over 1 million customer accounts and 900 corporate accounts. It has the most comprehensive offering and largest global reach of any bank with operations in Australia.

Additional information may be found at citigroup.com, citi.com or citibank.com.au; or on Twitter@citi or @citibank, on Facebook at /citi or /citibankaustralia, on linkedin.com/company/citi, on youtube.com/citi and at out blog http://new.citi.com.