Diners Club had 20,000 members by the end of 1950 and 42,000 by the end of 1951. Diners Club requires payment from individual cardholders in full within 30 days; corporate accounts can pay within 60 days without penalty. Diners Club cards issued in the United States and Canada then featured a MasterCard logo and 16-digit account number on the front, and could be used wherever MasterCards were accepted. Raising the Cuff; Credit Card Plans Are Growing More Numerous, Profitable. In 1981, , a unit of , acquired Diners Club International, the franchisor that holds rights to the Diners Club trademark, and many of the largest franchises worldwide. McNamara, Ralph Schneider, , and Alfred Bloomingdale, it was the first independent company in the world, and it established the concept of a self-sufficient company producing credit cards for travel and entertainment. Cards from other countries continued to bear a 14-digit account number on the front, with the MasterCard logo on the back.
Welcome to more than 700 lounges, accessible with your Diners Club ® card Diners Club ® Lounges offer a relaxing atmosphere where you can unwind or get work done, no matter your airline or travel class. © Diners Club International Ltd. In the movie , the main character mentions that he owns a Diners Club card while trying to book hotel rooms. Additionally, the descriptions used may vary by location. Diners Club began early on to allow franchises of the Diners Club name, at first in Europe and later throughout the world, for many years eclipsing the BankAmericard or Interbank Master Charge networks abroad. The first plastic Diners Club card was introduced in 1961; by the mid-1960s, Diners Club had 1. Some payment processors, like , can process only new Diners Club cards, bearing the Discover logo.
In 1981, Citicorp acquired the Diners Club card, and by the mid-1990s the Carte Blanche card was being phased out in favor of Diners Club. Your Diners Club Card is accepted at over 38 million MasterCard merchant locations worldwide — anywhere MasterCard is accepted. Designed with comfort and convenience in mind, our lounges are a quiet retreat from hectic airport terminals worldwide. Main article: Diners Club expanded its customer base in by acquiring the credit card from in 1992. The credit card is closing down its services in the on 31 May 2019. MasterCard ® and the MasterCard ® Brand Mark are registered trademarks of MasterCard International Incorporated.
Retrieved 14 April 2014 — via Google News Archive. His wife paid the tab, and McNamara thought of a multipurpose charge card as a way to avoid similar embarrassments in the future. Diners Club ®, Diners Club International with Split Circle Device, Carte Blanche ®, Club Rewards ®, Club Cash ®, Global Vision ® and T+E Reconciler ® are registered trademarks of Diners Club International Ltd. Various versions of the story differ about whether it was a lunch or dinner at which McNamara forgot his wallet, and whether the bill was paid on loan or McNamara waited for his wife to drive his wallet to him. The Card that Started it All.
All information and communications on this system are subject to review, monitoring, and recording at any time, without notice or permission. Some journalists later credited with the idea for Diners Club. Enjoy your journey and remain confident that with your Diners Club Card, you belong. American Express now dominates the charge card sector, providing millions of customers with cards that require the monthly balance to be paid in full. Retrieved February 8, 2013 — via Google News.
The deal was announced in April 2008 and approved by the U. Diners Club cofounder Frank McNamara was dining with clients and realized he had left his wallet in another suit. Links to other web sites do not imply the endorsement or approval of such web sites. Login Welcome This system is only for the conduct of company business or other specifically authorized use. Starting in 1968, the American Oil Company, better known publicly as , also issued, for a time, its own co-branded Diners Club cards called American Torch Club later renamed Amoco Torch Club , and issued its version called Sun Diner Club Card starting in 1977. Diners Club International transferred the franchise to a subsidiary of Austria's group, Erste Card Club, and agreed to repay the franchise's debt to merchants.
It was an upper-level charge card on par with the American Express. In 1978, Citicorp parent company of First National City Bank which was renamed Citibank reacquired Carte Blanche without regulatory opposition. Regulatory challenges forced First National City Bank to sell Carte Blanche to in 1968. Diners Club International was named for being a club of diners that would allow patrons to settle their bill at the end of each month through their credit account. McNamara returned to the same restaurant the following February, in 1950, and paid for his meal using a cardboard charge card and a signature. When the card was first introduced, Diners Club listed 27 participating restaurants, and 200 of the founders's friends and acquaintances used it. Diners Club International and its franchises service individuals from around the globe with operations in 59 countries.
However, since the takeover of Diners Club International by Discover Financial Services, these cards have had the Discover logo on the back. Hilton sold Carte Blanche to in 1966. He discussed the idea with the restaurant owner at the table, and the following day with his lawyer Ralph Schneider and friend. In May, the revoked Diners Club Slovenia's license for payment services, which meant 80,000 local members could not use their card. After 50 years, the Diners Club Card sets the standard for premier benefits. . Diners Club International was acquired by in 1981 and by Discover Financial Services in April 2008.
The 1960s- and 1970s-era Carte Blanche cards were considered more prestigious worldwide than their competition, the and Diners Club cards, though its small cardmember base hindered its success. Parent company Citigroup also known as Citi was formed in 1998 with the merger of Citicorp and the Travelers Group. A majority of the franchises abroad remain independently owned. Towards the end of the 1960s, Diners Club also faced competition from banks that issued cards through 's BankAmericard later renamed , and Interbank Master Charge later renamed. Under the agreement, Russian Standard Bank will process settlement transactions of other banks acting as acquirers of Diners Club in Russia.
By merging the North American Discover Network with the international Diners Club Network, Discover created a global payment processing system. Retrieved January 7, 2013 — via Google News. Citi issued a premium Diners Club card in 2000, naming it the Diners Club Carte Blanche card. The original and still the best. By enrolling in the group, Amoco's present clientels will enjoy the charge privileges of the 275,000 establishments all around the globe which honor the cards of the Diners' Club. Diners Club remains a minor player in Canada. An Erste press release in August 2013 stated that Diners Club services were once again available in Slovenia.