中文4530字
毕业设计（论文）译文
题目名称：花旗银行—在亚太地区开办信用卡业务
院系名称：经济管理学院
班 级：金融071
学 号：
学生姓名：
指导教师：
2011 年 3 月
花旗银行—在亚太地区开办信用卡业务
Brewster, C. Tyson, S
1999年，一个雨天的下午，花旗银行的亚太消费者银行总裁想到消费者银行在亚洲设立其消费者业务己经11年了。在遍布亚太地区和中东地区15国经营的分支银行业务已使花旗银行成为一家很有声望、面向消费者的国际银行，并成为大多数市场上无可争议的领导者。在1998年盈余6 970万美元以及2000年盈余1亿美元的目标下，总裁考虑通过开发新产品（信用卡）来增加公司的未来收益。信用卡可能是克服在亚太地区的外国银行分销渠道限制的极好方式。首先通过吸收信用卡成员，在分行业务外寻找目标客户，然后积极地向这些客户交叉销售花旗银行的其他产品和服务
在过去，信用卡的想法已经受到了质疑从花旗银行在纽约的总部以及该国的经理的质疑。在纽约的许多人认为它是有风险的投资。高级信贷经理质疑在年人均收入350美元，并且信贷的经验很少，几乎没有基础设施市场的信用卡市场广泛的发行信用卡。花旗银行的管理层认识到，大多数亚太国家的经济与美国，欧洲相比相对欠发达，消费者的态度和信用卡的使用模式都有国家的差别。在这方面，一些国家管理人员不能确定美国花旗银行的信用卡业务的成功是否可能成为到亚太地区的预测，此外，他们想知道花旗银行能否可以采用大众市场定位，以得到足够的客户或仍维持其与高级客户相适应高市场定位。有人认为：一个高价卡产品将不会成为市场中的主流。此外，在最初几年，国家管理人员对无担保信贷产品都过于敏感，如信用卡，并没有想到其会带来巨额亏损，他们的预测似乎说明了这一点。当地基础设施薄弱，有限的分销能力，以及该国的巨额亏损的信用卡业务的经验，都有助于推翻一国想要发展信用卡业务的想法。 Pei Chia,，曾在1997年年底任命为花旗银行的国际消费业务的总管，拥有管理花旗银行在美国庞大的信用卡业务，并积极向国际扩张的经验。 Talwar思考着一个信用卡产品的优点和缺点，以及如果能够提出一个可行的议案，他将得到总裁的充分信任以及支出。假如他决定把该产品推向市场，他必须提出一个可行的商业策略。 1999年，约228亿元资产，让花旗成为美国规模最庞大的银行类公司并且世界排名第十一。它的多元业务涵盖了整个银行产业，个人，机构和商业客户等。 全球金融 花旗集团的商业银行运作可以满足全世界商业团体的需求。作为处于外汇市场领导地位的银行，其服务范围非常广泛，其中包括商业信贷、房地产，以及对保险公司、证券公司、投资机构和其他银行等金融组织的服务。 全球消费者全球消费业务的目的是最大可能范围内满足个人客户最充分的资金需求。其160美元资产构成银行的资产基础50％。花旗银行大部分的消费者都在美国，其中六分之一的美国家庭中有一个与银行的关系。但是，它的国际业务一直高速增长。当其他大银行都已经缩减了其海外的业务同时，花旗银行已经将其业务扩大到美国以外15个的国家的900万家庭中。 到1999年，花旗银行已经开始作为一个商业银行，为消费者尽可能多的提供产品，尤其是在美国。仅在美国，花旗银行已经将其信用卡会员从1990年仅有的6百万发展到1997年的2700万。
花旗银行在亚太地区的使命是成为一个高利润并且卓越的，为日益壮大的市场提供广泛金融服务的供应商。花期银行在包括香港，台湾，澳大利亚，菲律宾，关岛，新加坡，印度，海湾国家，马来西亚，印尼，泰国，巴基斯坦和韩国在内的15个亚太地区和中东地区的国家开展业务。 国家经济的快速发展已使这些国家对许多国际银行更有有商业吸引力。然而，大多数亚洲国家的政府有一个旨在保护当地银行和限制外国银行的扩张法规。例如，在印尼可经营的外资银行只有两家，在马来西亚和新加坡，他们被限制为三个，泰国，各外资银行只被允许设立一个分支机构。 花旗银行的高级管理人员知道，他们不能只依赖于从监管环境中获得更多的在当地市场的突破的机会。因此，提供更具创新性和高品质的产品，服务和技术是成为获得和留住客户关键。例如，花旗银行率先在亚洲大部分地区的开展电话银行业务。它开发其他的分销渠道，如汽车贷款，与经销商作为银行的代理人，客户以前没有接触过的分支。 花旗银行亚太区消费者银行：核心产品和服务 核心产品 提供一个花旗帐户，花旗银行用先进技术，为客户提供的东西没有一个竞争对手可以复制：综合存款帐户和投资与花旗银行的客户的所有账户的总和为基础。一旦拥有花旗账户，客户就拥有以下好处： •一个汇总报表显示其所有花旗银行帐户的状态; •银行的电话; •自动检查透支; •有关的储蓄和支票账户的所有资金流动的地方，从检查到隔夜存款，以赚取利息， •一个指定的客户服务人员来管理他们的帐户。 为了向分支银行的客户充分提供资源，花旗银行相对的加强了检查储蓄通常约10 000美元的客户存款要求。 在以住房贷款客户为对象，允许那些房屋价值超过现有的抵押获得的贷款的最高贷款额度。 花旗银行也是在亚洲的汽车贷款的最大供应商之一。银行通过与汽车销售商建立和维持获得新客户汽车贷款的关系，然后通过汽车经销商放出信贷。 不像其他的信用额度帐户，花旗银行的准备信贷，循环信贷系统，像一个活期支票帐户一样工作正式启用，客户申请信用透支线无需申请贷款。该产品是针对中级专业人员，为他们提供应对突发或紧急情况的资金准备支出。它提供了许多好处，包括小额的贷款，没有抵押或担保要求，并可以通过自动取款机（自动柜员机）还款。 为了吸引高净值的市场价值部分，花旗银行独家提供个性化的贵宾理财中心的服务，它的创造者将贵宾理财中心的概念比作在飞机的头等舱旅行。贵宾理财中心服务，客户的最低平均存款要求可以在独特，装饰豪华的服务领域进行操作，从而不必等待在银行柜台。轻柔的音乐，温暖的灯光，优雅的欣赏工艺品，从有经验的客户代表都有助于客户获得更先进的产品，投资咨询服务，免费订阅杂志，和货币趋势的最新类服务，这些都是贵宾理财中心的客户所可得到额外的好处。亚太部门创新的贵宾理财中心的想法，和其在亚洲的客户很大的比例都是贵宾理财中心的客户。 花旗银行客户可通过自己家中或者办公室的私人电话甚至手机完成日常银行交易，如资金转账和账户余额查询。此外，随着电话银行发展，客户可以随时访问他们的帐户，每天24小时，7天是周末，一年365天。 花旗银行还通过在亚洲银行业自动取款机的革命。客户可以使用时尚的提款卡来访问他们的资金，高度固定化花旗银行在其选择的语言，以及发生问题时所有自动取款机会自动的让每个花旗银行人员与客户电话接通。随着国际花旗银行花旗卡，几乎在世界任何地方，客户都可以在自己的账户进行交易。 业务分部 除了正规的分行，花旗银行设立办事处，服务于某些单独的战略客户群。其中的每个分支机构的设立都旨在提供了满足在这些细分市场客户的独特需求的产品组合。 花旗银行非印度居民业务的成立涵盖了没有居住在印度的印度客户。花旗银行在印度提供的特殊定期存款外币和卢比储蓄账户，使NRI客户能够依靠卢比或外国货币的投资他们的海外收入帐户。前者获得了显着高额利率。这有助于开发出帮助花旗银行央行与印度政府购买外币关系。NRI已遍布全球各大金融中心的分支机构。 随着全世界15个国家的21家银行中心，国际个人银行业务的宗旨在于服务于全球金融服务需求的日益富裕的亚洲海外客户群。IPB提供像国际大学计划等创新产品，这将使客户建立必要的基金账户送子女到美国，加拿大和欧洲等的著名大学，同时高校投保了对学生死亡或伤残的保险。帮助客户们缓和政治和经济不稳定，为他们提供咨询服务和外币进入全球投资产品，同时提供独特的地方税收优惠。IPB专注于个性化的，保密性和可得到的服务取得超过120万个全球花旗银行客户的选择。 另一方面，国家经理力求突显本地市场的实际情况。Bob Thornton，印尼全国花旗银行经理说到：。“有一个贫穷的消费者在印度尼西亚分期支付债务的历史，作为我们的按揭贷款组合中的欺诈和金融部门高层次的经验，我不知道信用卡客户将执行是否有任何不同。法律基础设施不足，使我们无法收集合法的，必要的信息。此外，虽然对信用卡产品有一个小市场，我不确定我们是否可以得到的工作人员和基础设施的权利来取得运行业务的成功和获利。然而，随着一个18亿人口的印度，它是少数几个在亚太地区潜在的巨大市场“。 据新加坡国家经理大卫史密斯的说法， “我们有一个小型的两百万人口已经饱和饱和的信用卡市场，此外，美国EXPRESS公司已经拥有了大部分的市场，这么晚才进入这个市场对我们将最有导致亏损的可能 。 印度国家经理，Jaitirth Rao曾在一两年内，在印度金融服务中使消费者银行的产品创新和服务的质量得到了很大的提高，用他的观点看：“在像我们这样小基础设施有很大的潜力成为的重大难题的大国发行信用卡。相当于有个累赘，让我们拖延。 卡业务基础知识 银行发行的Visa或MasterCard，两者都是为国际组织特许经营的。任何银行或金融机构可以通过履行一定准则从而取得这些专营权。在成为会员时，他们都必须遵循一套固定共同的做法。以黄金卡为例，他们必须是拥有黄金的颜色，发行银行有责任提供旅游意外保险，并为其持卡人24小时服务热线。在一般情况下，Visa/万事达拥有共同的标志设计规范和操作规则，其成员都必须遵守的共同标准。但是，这要由个别银行，决定价格，品牌，定位和客户获取策略。Visa或万事达卡的经销商银行提供了广泛的信息网络包括了在国内和国际上清晰的交易。会员银行和金融机构按其网络使用量比例支付专营权使用费（一小部分的销售量），以及Visa和万事达的费用。除了银行和金融机构可以发行信用卡外，拥有Visa和万事达商人专营权也可以参加发行。这样做的目的在于，争取通过“acquiring”银行零售商家明确自己的信用卡交易。也就是说，无论是哪个银行的信用卡客户，零售商将提出其“acquiring”的通关银行交易。Visa和万事达提供了通过卫星进行连接的全球通讯和计算机网络，以便能够使涉及商人，客户，收单银行，以及所有开证银行在几秒钟之内完成信用卡交易。
当花旗银行持卡人在花旗银行指定地点购买商品时，交易的下一轮将导致：客户用花旗银行卡买了100元的商品，商人将100美元收费单传送到收单银行然后取得97.00美元的。因此，在本次交易，产生3美元（或3.0％）商人折扣收入，这便是专营商户支付Visa或MasterCard发卡机构（花旗银行）转乘帐费，这还包括其所有相关收单业务得费用。花旗银行向持卡人每月结算一次以百元为单位，因此持卡人便视折扣后的商品总值选择分期付款或全额付款
本地银行的手续费在1.5％至2.0％之间，远远比花旗银行的3.0％为更低低，因此，发展特许经销商业越来越成为发达市场中最大困难。花旗银行已拥有约3千家香港特许经销商。为了与当地银行有效竞争，它使交易结算时间更加减少。在大部分亚太市场，美国EXPRESS公司拥有有比较高级的特许经销商。即便如此，花旗银行收取3％的折扣率，依然拥有最优质的酒店，餐馆和零售商接受其从属关系，以吸引和留住旅行有关的国际客户。 作为一个战略，用以对付美国运通公司日益增长的国际占有量，花旗银行决定寻找一个国际专有卡支付系统。 1991年，花旗银行收购Diners Club International（DCI），它管理着为Diners Club International国际特许经营。 DCI只允许每个国家签署的一个加盟商。特许经营机构将是Diners Club卡的唯一发行者和商户业务的在该国唯一的收购方。而花旗银行在一些国家拥有Diners Club专营权，其他大多数国家私营公司管理的特许机构。 作为高级管理人员和成功的商人旅行和娱乐卡的市场定位，Diners Club卡是一种收费卡，卡上的所有债务都必须在在每月底结算。不像银行卡，由于没有利息的收入，其主要收入来源是学费和商家的折扣。
来源：
Brewster, C. and Tyson, S. Technoeconomics & Management Research, McGraw-Hill, 2006
Citibank-Launching The Credit Card In Asia Pacific
Brewster, C. Tyson, S.
In recent years, the auditing industry has been being challenged by rising risks, as evidenced On a rainy afternoon in 1999, Rana Talwar, head of Citibank's Asia Pacific Consumer Bank, reflected upon the 11 years that had gone by since the Consumer Bank had established its consumer business in Asia. The branch banking business operations in 15 countries throughout Asia pacific and the Middle East projected Citibank as a prestigious, consumer-oriented international bank and as the undisputed leader in most marketplaces. With earnings of $69.7 million in 1998, and a goal of $100 million in 2000, talwar considered the launch of a new product (credit card) as a way of growing future revenues. Cards could prove to be an excellent way to overcome distribution limitations imposed on foreign banks in the Asia-pacific region: first, by acquiring card members, by targeting customers outside its branch business and, then, by actively cross-selling other Citibank products and services to these customers.
In the past, the credit card idea had met with skepticism from Citibank's New York headquarters as well as its country managers. Many in New York considered it a risky investment. Senior credit managers questioned the wisdom of issuing cards in markets with annual per capita income of $350 and also in markets with little credit experience and hardly and infrastructure. The Citibank management recognized that the economics of most Asia-Pacific countries were relatively underdeveloped compared with the United States and Europe; consumers' attitudes and credit card usage patterns differed country by country. In this context, several country managers were unsure whether the success of Citibank's U.S. card business could be projected onto Asia Pacific, further, they wondered whether Citibank could adopt a mass-market positioning to get enough cards customers or still maintain its up-market positioning with the current upscale branch banking customers. A premium-priced card product would not sell in the marketplace in a large way, it was argued. Moreover, country managers were not comfortable with an unsecured credit product such as credit cards and did not want to take the large losses of a card business, in the initial years, that their projections seemed to indicate. Weak local infrastructure, limited distribution capabilities, and the experience with loss-making proprietary credit card businesses that some of the countries had, served to underline arguments against a credit card launch.
Pei Chia, who had been appointed in late 1997 to head Citibank's international consumer businesses, had experience managing Citibank's huge U.S. card businesses and was favorably disposed towards international expansion. Talwar pondered the pros and cons of a credit card product, and he was confident of support from his boss if a viable proposition could be structured. If he decided to push for the product, he would need to articulate a viable business strategy.
With about $228 billion in assets in 1999,Citicorp was the largest banking company in the United States and ranked eleventh in the world. Its operations were broadly diversified across the banking industry in order to serve a variety of individual, institutional, and commercial customers.
Global Finance Citicorp's commercial banking operation service the needs of the world's business community. Recognized as the leader in the foreign exchange market, its wide range of services included commercial lending, real estate, and services to financial organizations, such as insurance companies, securities companies, institutional investors, and other banks.
Global Consumer The Global Consumer business aimed to serve the fullest possible range of financial needs for individual consumers. Its $160 billion in assets constituted 50% of the bank's asset base. The majority of Citibank consumers were in the United States, where one out of six American households had a relationship with the bank. However, its international presence had been growing rapidly, and while other large banks had been scaling back their efforts overseas, Citibank had expanded its services into 9 million households in 15 countries outside the United States.
By 1999, Citibank, which had started as a commercial bank, offered a variety of products for consumers as well, especially in the United States. In the United States alone, Citibank had grown its card membership from a mere 6 million in 1990 to more than 27 million in 1997.
Citibank's mission in the Asia-Pacific region was to be the most profitable and prominent provider of a wide array of financial services to an increasingly affluent upper-income and middle-income market, and to reach the rapidly growing middle-income households in this region. The bank operated in 15 countries region throughout Asia- pacific and the Middle East: Hong Kong, Taiwan, Australia, the Philippines, Guam, Singapore, India, the Gulf, Malaysia, Indonesia, Thailand, Pakistan, and Korea.
Rapid economic development had made these countries attractive business propositions for many international banks. However, most Asian governments had a number of regulations designed to protect local banks and limit the expansion of foreign banks. For instance, foreign banks in Indonesia could operate only two branches; in Malaysia and Singapore, they were limited to three; and in Thailand, each foreign bank was allowed only one branch.
Citibank's senior managers knew that they could not rely only on breakthroughs in the regulatory environment to gain increased access in the local market. Therefore, offering the most innovative and high quality products, services, and technology was critical to acquiring and retaining customers. For example, Citibank pioneered telephone banking in much of Asia. It developed alternate distribution channels for products such as automobile loans. With the dealers acting as the bank's agents, customers did not ever have to visit the branch.
Citibank Asia-Pacific Consumer Bank: Core Products and Service
Core Products
In offering the Citi-One account, Citibank used its advances in technology to provide customers something none of its competitors could reproduce: a consolidated deposit and investment account based on the sum total of all of a customer's accounts with Citibank. By enrolling in Citi-One, customers benefited from:
• A consolidated statement showing the status of all their Citibank accounts;
• Banking by phone;
• An automatic checking overdraft facility;
• Linked savings and checking accounts where funds were swept from checking into savings overnight in order to earn interest, and
• A designated customer service officer to manage their accounts.
In order to fully offer its resources to branch banking customers, Citibank imposed relatively high deposit requirements of its checking/savings customers-usually about $10 000.
Mortgage power, targeted at housing loan customers, allowed those whose homes were worth more than the existing mortgage to obtain a revolving line of credit on top of their existing loan.
Citibank was also one of the largest providers of auto loans in Asia. The bank worked to establish and maintain relationships with car dealers as one way to gain access to new customers; auto loans were then sourced and marketed through car dealerships.
Unlike other credit line accounts, Citibank's ready credit, a revolving credit facility that worked like a checking account, enabled customers to apply for an overdraft line of credit without having to formally apply for a loan. This product was targeted at mid- level professionals and provided them a ready source of funds for unexpected expenditures or emergencies. It offered a number of benefits, including low mandatory repayment of the loan, no collateral or guarantors required and ready cash withdrawals through ATMs (automated teller machines).
To attract the high net worth segment of the market, Citibank offered its exclusive, personalized Citigold service; its creators likened the Citigold concept to traveling in the first class cabin of an airplane. With Citigold service, customers who met the minimum average deposit requirements (this varied from country to country but was usually around $100 000) did their banking in exclusive, lavishly furnished service areas where they did not have to wait in lines for teller service. Soft music, warm lighting, tastefully selected artwork, and service from immaculately groomed, more experienced representatives all served to differentiate this class of customer, access to more sophisticated products, investment advisory services, complimentary magazines subscriptions, and updates on currency trends were just some of the additional benefits bestowed upon Citigold customers. The Asia-Pacific division innovated the Citigold idea, and a much larger proportion of its customers in Asia compared with its U.S. operations were Citigold customers.
Citipbone banking enabled customers to complete routine banking transactions, such as fund transfers and account balance inquiries, via phone, from the privacy of their own homes or offices, or even from mobile phones. Moreover, with Dictaphone banking, customers could access their accounts 24 hours a day, 7 days a weekend, 365 days a year.
Citibank had also revolutionized the banking industry in Asia via automated teller machines. Customers could use ATM cards to access their funds from stylishly decorated, highly secured Citicard Banking Centers in the language of their choice, and all ATMs contained phones with automatically connected customers with a Citibank officer in case of a problem. With the international Citibank Citicard, customers could carry out transactions on their accounts virtually anywhere in the world.
Business Segments
In addition to its regular branches, Citibank operated separate offices to serve certain strategic customer segments. Each of these offered a portfolio of products designed to meet the unique needs of customers in those segments.
Citibank's Non-Resident Indian business (NRI) was set up to capture the business of Indian customers who did not reside in India. Citibank offered special foreign currency time deposit accounts and rupee savings accounts in India, which enabled NRI customers to invest their overseas earnings in Indian rupees or in foreign currencies. The former earned a significantly higher interest rate. This helped Citibank develop relations with the Indian government by helping the central bank to procure foreign currencies. NRI had branches in major financial centers all over the world.
With 21 banking centers in 15 countries around the world, the International Personal Banking (IPB) business was designed to service the growing group of affluent Asian offshore clients with global financial needs. IPB provided such innovative products as the International University Plan, which would allow customers to create the funds necessary to send their children to prestigious universities in the United States, Canada, and Europe, while insuring the funding for college against death or disability. It helped them cushion political and economic instability, offering them foreign currency advisory services and access to global investment products, while providing unique local tax benefits. IPB's focus on personalized service (a personal finance manager specially trained in international transactions), confidentiality, and accessibility made Citibank the choice of more than 120 000 customers worldwide.
Country managers, on the other hand, sought to highlight realities of the local marketplace., country manager of Citibank Indonesia, argued: "There is a history of poor consumer payment on installment debt in Indonesia, as has been our experience with the mortgage portfolio and a high level of fraud in the financial sector. I wonder if credit card customers will perform any differently. The legal infrastructure is inadequate so that we cannot collect legally, if necessary. Also, while there is a small market for a card product, I am not sure that we can get the right kind of staffing and infrastructure to run such a business successfully and profitably. Yet, with a population of 180 million, it is among the few potentially large markets in Asia pacific".
According to Dave Smith, country manager for Singapore: "We have a small two-million population and an already saturated card market. Moreover, American Express has the market in its pocket. Entering this market so late will most likely result in us losing money. We can do without this distraction from our main banking business."
Jaitirth Rao, country manager for India, who had, in a matter of two years, made the Consumer Bank an innovator of products and a catalyst for service orientation in the Indian financial services sector, expressed his concern: "launching a credit card in a large country like ours with little infrastructure has great potential to be a major headache down the road. It's a dog. Let us delay it."
Card Business Basics
Banks issued Visa or MasterCard, both of which were organized as international franchises. Any bank or financial institution could become a member of these franchises by fulfilling certain eligibility criteria. On becoming a member, they all had to follow a certain common set of practices. An example was gold cards; they had to be a gold color, and the issuing bank was obliged to provide travel accident insurance and a 24-hour help line for its cardholders. In general, Visa/MasterCard set common standards for card-logo design and operating rules that its member franchises all had to abide by. It was up to the individual banks, however, to decide on pricing, branding, positioning, and customer acquisition strategies. The franchisers, Visa or MasterCard provided the banks an extensive information network both within the country and internationally to clear transactions. Member banks and financial institutions paid visa and MasterCard a fee in proportion to their volume of network usage, and a franchise royalty (a small percentage of sales volume) as well. Banks and financial institutions in addition to issuing cards could also participate in the Visa and MasterCard merchant acquisition franchise. The objective here was to enlist retail merchants to clear their credit card transactions through the " acquiring " bank. That is, regardless of which bank issued the card to the customer, the retail merchant would forward transactions to its "acquiring" bank for clearance. Visa and MasterCard provided a worldwide communication flow, via satellite hookups and computer networks, to enable a convenient consummation of the credit card transaction-often involving a merchant, a customer, an acquiring bank, and an issuing bank, all within a matter of seconds.
When a Citibank cardholder approached a Citibank merchant to purchase goods, the following round of transactions would result: say the customer bought $100 worth of goods on her Citibank card; the merchant would present the $100 charge slip to the acquiring bank and receive $97.00 for the same transaction. Hence in this transaction, the acquiring bank would generate a merchant discount revenue of $3.00 (or 3.0%) from which it would have to make franchise payment to visa or MasterCard, pay the card issuer (Citibank) interchange fee, and also cover all its expenses related to the acquiring business. Citibank, the card issuer, would bill the cardholder the $100 in full, in the monthly statement. The cardholder would then have the choice of making a part payment or full payment, depending upon the payment term.
Local banks held back merchant discounts in the 1.5% to 2.0% range-far lower than Citibank's 3.0% as a result; merchant acquisition was getting to be very tough in developed markets. Citibank had enrolled about 3 000 merchants in Hong Kong. In order to compete effectively with the local banks, it guaranteed merchants a faster transaction settlement time. In most Asia Pacific markets, American Express had the higher-caliber merchants. Even though, like Citibank, it charged a 3% discount rate, most quality hotels, restaurants, and retailers accepted its affiliation in order to attract and retain travel-related international clients.
As part of a strategy to counter American Express's growing international presence, Citibank decided to look for an international proprietary card payment system. In 1991, Citibank acquired Diners Club International (DCI), which managed an international franchise for the Diners Club card. DCI allowed only one franchisee to be signed up in each country. The franchisee would be the sole issuer of Diners Club Cards and the sole acquirer of Diners Club merchant business in that country. While Citibank owned the Diners Club franchise in some countries, private companies managed the franchise in most other countries.
Positioned as a travel and entertainment card for senior executives and successful businessmen, the Diners Club Card is a charge card, i.e., all outstanding on the card have to be settled in full at the end of every billing month. With no interest revenue, unlike bankcards, the primary revenue sources are fees and merchant discounts.
Source:
Brewster, C. and Tyson, S. Technoeconomics & Management Research, McGraw-Hill, 2006
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