Acquisition By Discover Financial Services
In a transaction completed July 1, 2008, Discover Financial Services purchased Diners Club International from Citi for $165 million. The deal was announced in April 2008 and approved by the U.S. government in May 2008. By merging the North American Discover Network with the international Diners Club Network, Discover created a global payment processing system. Discover Bank has no plans to issue Diners Club-branded cards, which continue to be issued by Diners Club International licensees.
In 2011, Discover began putting its logo on Diners Club cards. Some payment processors, like PayPal, can only process new Diners Club cards with the Discover logo on them.
Read more about this topic: Diners Club International
Famous quotes containing the words acquisition, discover, financial and/or services:
“Always and everywhere children take an active role in the construction and acquisition of learning and understanding. To learn is a satisfying experience, but also, as the psychologist Nelson Goodman tells us, to understand is to experience desire, drama, and conquest.”
—Carolyn Edwards (20th century)
“The worst feature of this double consciousness is, that the two lives, of the understanding and of the soul, which we lead, really show very little relation to each other; never meet and measure each other: one prevails now, all buzz and din; and the other prevails then, all infinitude and paradise; and, with the progress of life, the two discover no greater disposition to reconcile themselves.”
—Ralph Waldo Emerson (1803–1882)
“A theory of the middle class: that it is not to be determined by its financial situation but rather by its relation to government. That is, one could shade down from an actual ruling or governing class to a class hopelessly out of relation to government, thinking of gov’t as beyond its control, of itself as wholly controlled by gov’t. Somewhere in between and in gradations is the group that has the sense that gov’t exists for it, and shapes its consciousness accordingly.”
—Lionel Trilling (1905–1975)
“A good marriage ... is a sweet association in life: full of constancy, trust, and an infinite number of useful and solid services and mutual obligations.”
—Michel de Montaigne (1533–1592)