Thread: Diners Club was a bargain for Discover

On Thurs Discover came out with their quarterly report. They say that they did 35 billion in transaction volume during that time and over 6 billion of that was from Diners Club alone.

Discover paid something like $150 to $175 mil (don't remember exact number) for Diners Club from Citi. I know they only purchase the payment network Diners Club uses but still that must be making waaay more money than the price they paid for it. How did they get it so cheap??!

Yes but keep in mind they didn't buy Diners Club; they only purchased ownership of the transaction network, and that being said, I don't even think they have every country as part of that.

There is definitely potential for Diners Club International and the USA divisions to increase revenue majorly. Others on here have mentioned they should go back to their roots and as the name implies, start a credit card that gives a discount at restaurants. I think that's a great idea and that may be the only way they can make a comeback in the United States.

Diners Club is still huge in some Latin American countries and some in Europe. I wonder if that will last??