BDO partners with Diners Club for new credit cards

BDO UNIBANK, Inc. has partnered with Discover Financial Services to launch Diners Club International (DCI) as the lender’s newest credit card brand partner.

BDO Senior Vice- President and Consumer Lending Group Marketing Head Ma. Nannette R. Regala said with the partnership between the lender and Diners Club, BDO cardholders will have more exposure to perks and privileges the credit card firm offers globally.

“The advantage of partnering with DCI is it gives our cardholders access to the different values worldwide that they provide. There are discounts and perks that will be available to our cardholders,” Ms. Regala told reporters in Makati City on Thursday.

In a statement, BDO said it is the sole issuer of Diners Club cards in the Philippines.

With the partnership, local cardholders will have access to more than 28 million merchants where Diners Club cards are accepted.

BDO will issue two types of cards under the Diners Club brand: the BDO Diners Club International Credit Card as well as BDO Diners Club Premiere Credit Card.

Cardholders can earn airline miles for every purchase, access more than 800 airport lounges worldwide and are entitled to free travel insurance.

Aside from the higher- end market, Ms. Regala said the cards are also suited for the younger demographic.

“The premiere card obviously is for higher-end market — people who are very familiar with the brand. We also have a card that we’d like to position for the younger segment,” she said, adding that BDO ensures it addresses the credit card needs of various markets in coming up with its products.

Ms. Regala also noted that the Sy-led lender opts to tap the young population with no credit cards and get them loyal to the lender.

“Especially in the Philippines where we have a young population, the opportunity to get them involved into a credit card is there,” she said. “You also have to provide them the means to

be able to enjoy some financial services so that they can achieve what they want to achieve.”

In October 2016, BDO became the official issuer of Diners Club cards in the country following its acquisition of rights from the credit card arm of Security Bank Corp.

“We acquired it late 2016, and of course with any acquisition of a new scheme, there are technical processes that we need to address.” Ms. Regala explained.

She added that the partnership of BDO and Diners Club will “not cannibalize” the other credit cards of the lender as products under BDO’s credit card line are intended to “complement” each other.

“A lot of people may say they’ll compete. But we make sure that [ our credit cards] complement each other, and it will be at the consumers’ choice as to which brand or card they want to have,” she said.

Aside from Diners Club, BDO offers credit cards bearing the brands of Visa, Mastercard, American Express, JCB and UnionPay.

BDO shares closed at P128 on Thursday, up by P2.50 or 1.98% from the previous close. •