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Diners Club International (DCI), founded as Diners Club, is a charge card company owned by Discover Financial Services.Formed in 1950 by Frank X. McNamara, Ralph Schneider (1909–1964), [3] Matty Simmons, and Alfred S. Bloomingdale, it was the first independent payment card company in the world, successfully establishing the financial card service of issuing travel and entertainment (T&E ...
Familiar payment card association brands include UnionPay, RuPay, American Express, Discover, Diners Club, Troy and JCB. While once card associations, Visa and Mastercard have both become publicly traded companies. [1] [2]
Diners Club is now owned by Discover, but in the U.S. their cards are still processed as MasterCards. All U.S. Diners Club cards now have MasterCard numbers (starting with 51-55). International Diners Club cards start with 36. --Harmonj 21:35, 9 October 2008 (UTC)
In 1950, Diners Club began opening charge accounts with paper identification cards, directed at the travel and entertainment markets. The novel feature of these cards was that the charge card could be used in a large number of stores. These stores had to enter an agreement with Diners Club, and pay a fee to the company.
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The card scheme uses the respective guidelines [5] [6] to process the card exchange data from the acquiring to the issuing bank, and vice versa, until the payment [7] is fully completed (or denied). Credit and debit cards work with a four-party scheme, completing an open-circle framework that permits consistent flow of transactions; thus ...
Alfred Schiffer Bloomingdale (April 15, 1916 – August 23, 1982) was an American businessman who launched the credit card business Dine and Sign, was chairman of Diners Club, and became known as "father of the credit card."