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TMCNet:  Allinpay to Grow Acceptance for Diners Club International in Hong Kong

[September 12, 2017]

Allinpay to Grow Acceptance for Diners Club International in Hong Kong

Allinpay, one of China's leading alternative payment providers, and Diners Club International, a subsidiary of Discover Financial Services (DFS) and part of the Discover Global Network, announced that Allinpay is now an acquirer for all cards that run on the Discover Global Network. Allinpay merchants will now be able to accept Discover, Diners Club International and affiliate partner cards, increasing acceptance in the Hong Kong region.

Through working with Diners Club International, Allinpay will be expanding their business outside of Mainland China and into Hong Kong. Allinpay's main focus in Hong Kong is travel oriented merchants, which aligns with Diners Club's acceptance strategy in the market.

"Expanding Diners Club acquiring services into Hong Kong deepened our co-operation with Discover Global Network," said Jim Yu, Vice President of Allinpay Network Services Co., Ltd. "Providing more payment choices and services to Hong Kong merchants and cardholders is in line with our goal to aggressively open up overseas markets."

"Hong Kong continues to be a key destination for Discover Global Network cardmembers," said Ricardo Leite, vice president of global acceptance for DFS' Payments Services. "Our partnership with Allinpay will allow us to open more merchants for them to shop at and use their preferred choice of payment."

Discover Global Network is the third largest payments network in the world1. With over 41 million merchant acceptance locations and 1.9 million ATM and cash access locations across 185 countries and territories, Discover Global Network includes Discover, Diners Club International, PULSE and affiliated networks.

About Allinpay

Established in October 2008, ALLINPAY is a leading third party payment processor in China. Headquarter located in Shanghai, ALLINPAY has34 branch offices covering all China provinces and has presence in Hong Kong & U.K. with over 6,500 employees worldwide. ALLINPAY is one of the few financial institutions in China possesses full scope payment licenses spanning online, offline, domestic, cross-border, acquiring and issuing. At present ALLINPAY acquires over 1.5-million merchants. With RMB1.46 billion paid up capital, ALLINPAY's annual turnover exceeded RMB4.2 trillion nowadays. For more information, please visit http://www.allinpay.com.

About Diners Club International Ltd.

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 800 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, as a part of the Discover Global Network, is uniquely qualified to serve its cardmembers all over the world. Diners Club International is a wholly owned subsidiary of Discover Financial Services (NYSE: DFS), a direct banking and payment services company with one of the most recognized brands in U.S. financial services. For more information, visit www.dinersclub.com.

About Discover

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 private student loans, personal loans, home equity loans, checking and savings accounts and certificates of deposit 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.

1 By merchant acceptance. Global Payment Cards Data and Forecasts to 2020 (RBR)


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