In 1950s, Frank McNamara, Matty Simons and Ralph Schneider participated in the creation of the financial history by forming a charge card company. The company lead to a breakthrough since it introduced an idea of self-sufficient and independent credit card company that dealt solely with entertainment and travel credit card production. The very first charged was made the same year in February in Major’s cabin grill and it was executed by the very founders.
The type of cards that Diners Club created were called T&E cards or travel and entertainment cards and they targeted people who travelled frequently and had a substantial income. Since these clients had no need to postpone the payment, Diner Club cards had a system where the entire balance of the bill was covered immediately, a type of the account called charge card.
In the course of time, Diners Club began to allow the franchises on its name (in Europe initially and worldwide later on) challenging the BankAmericard and Interbank MasterCharge for years. There were also card that were issued as a result of cooperation between Amocco Corporation (American Torch Club) and Sun Oil Company (Sun Dine Club Card).
In 2008, Discover Financial Services bought Diners Club and as a result, a global payment processing system was born. Nevertheless, the Diner Club cards continue to be issued by the Diners Club global licences until 2011, when Discover started introducing their company logo onto the Diners Club cards.
In 2004, MasterCard and Diners Club came into an agreement and new 16 digit card was featured in US and Canada (while other countries preserved the 14 digit number of the account located on the front of the card). In 2000, Diners Club introduced Diners Card Carte Blanche, its own version of Carte Blanche (T/E card that appeared in around 60s and was owned by the famous chain of Hilton Hotels).
It is a prestigious card that has $300 annual maintenance fee with numerous advantages for passionate travellers. The card is can be used wherever the Diners Club is normally accepted and full payment is required within 30 to 60 days without the sanctions.
Alliance with Air Canada also deserves to be mentioned. Their enRoute card was purchased by Diner Club in 1992 and it was introduced on the market as Diners Club en route card.
Diners club is intended for a specific type of population, therefore the terms of usage and payment conditions are adjusted to that particular class of people. Even so, loyalty is valued highly within the community of Diners Club card holders. The owners are often treated with voyage miles, vouchers for accommodation and entertainment, usage of airport VIP facilities and inclusive travel insurance when abroad. In addition to that, Diners Club card remains the safest and most efficient form of payment at online casinos, especially because of its global potential and prestigious reputation.