PPCBank Becomes the First Diners Club International Issuer in Cambodia

RIVERWOODS, Ill. PHNOM PENH, Cambodia–(BUSINESS WIRE)–PPCBank and Diners Club International have signed a franchise agreement
in Cambodia. The Network Participation Agreement gives PPCBank the
privilege to issue Diners Club cards to its customers in Cambodia. The
signing of the agreement at Sofitel Phnom Penh Phokeethra follows the
establishment of a memorandum of understanding earlier this year.

PPCBank’s customers will be invited to apply for Diners Club Cambodia
cards that would come with special benefits and world-class experiences
in shopping, dining, travel, healthcare, education and more. The Diners
Club Cambodia card will be accepted around the globe at more than 28
million merchants in more than 190 countries and territories. Diners
Club Cambodia clubmembers will enjoy access to numerous consumer and
commercial card programs, with a wide variety of benefits including
access to a network of airport lounges, elite status and valuable offers
at the world’s finest hotels, memorable dining experiences at
world-renowned restaurants, and special offers on luxurious
entertainment and shopping categories.

Mr. Shin Chang Moo, the President of PPCBank, said: “Cambodia is a
fascinating country and the economy has continued to grow steadily with
a marked increase in income levels. With the recent emerging trend in
mobile financial services, people’s behavior and perspectives towards
spending money have changed dramatically. People are now willing to
spend more on quality products and services, instead of spending less
for ones that fall short of their expectations and needs.”

“With that in mind, PPCBank is always on the lookout for opportunities
to introduce new and innovative products and services that can cater to
a growing demand. With Diners Club International, we look forward to
providing Cambodians with a whole new level of financial experience,
while enjoying a wealth of privileges all around the world,” said Mr.

“We look forward to supporting PPCBank with the launch of Diners Club
Cambodia cards and providing their clubmembers with worldwide acceptance
and the ability to take advantage of many of the exclusive benefits only
available to Diners Club members,” said Joe Hurley, senior vice
president and head of global business development for Discover. “This
agreement aligns with our strategy of creating unique and flexible
partnerships around the world.”

Through this agreement with Diners Club International, PPCBank aims to
provide dedicated premium products and services for individuals who are
seeking luxury and convenience, domestically and internationally, while
maintaining quality and prestige.

With Diners Club Cambodia cards, their travel experience can be elevated
through exclusive Diners Club International worldwide privileges which
includes access to Diners Club® Airport Lounges in more than 850
locations worldwide.

Founded in 2008, PPCBank is recognized as one of the fastest growing
commercial banks in Cambodia, not only in terms of asset size but also
its network reach and growth in its customer base. Aiming to both
revolutionize and personalize Cambodia’s banking experience, PPCBank
recently launched a suite of products and services including its mobile
application, fully functional Corporate Internet Banking (smartBiz),
Mobile Teller system for on-the-spot consultations, and intelligent Call
Center to support customer 24/7. Currently, the fully licensed
commercial bank is in the process of carrying out its digital banking
project, focusing on the introduction and improvement of mobile
financial services. The new franchise relationship with Diners Club
International will be the latest addition to its product offering.

Over the past two decades, Cambodia has experienced strong economic
growth and consequently, income levels have risen remarkably, resulting
in a higher amount of disposable income. With an average growth rate of
7.7% between 1995 and 2017, Cambodia is the sixth fastest-growing
economy in the world. Economic growth is expected to be sustained with
the World Bank forecasting growth of 7% for 2019.

About PPCBank

Locally incorporated in September of 2008, PPCBank currently operates
throughout 18 branches and 28 ATMs across Phnom Penh and major
provinces. With its vision, “Success Story Creation Based on
Localization and Advanced Model in Southeast Asia”, PPCBank commits to
providing Omni channel experiences for its customers and non-customers.
Ranging from social-thinking branches with coffee shop served by people
with special needs in their locations, easy-banking Mobile App for
individual customers to smartBiz, a corporate management system for
corporate customers to bank and manage their payment collection more
effectively with Virtual Account, PPCBank also provides Mobile Teller
for onsite consultation within and out of the branch. In addition to
this, PPCBank also delivers its service to HNWI (High Net-Worth
Individual) customers with Gold Club privileged banking hospitality. And
for Japanese and Chinese customers, they also can visit the bank to
receive services from Japan and China desks and experience PPCBank ‘Fun
Bank’ concept. For more information, visit www.ppcbank.com.kh

About Diners Club International Ltd.

Established in 1950, Diners Club International became the first
multi-purpose charge card in the world, launching a financial revolution
in how consumers and companies pay for products and services. Today,
Diners Club is a globally-recognized brand serving the payment needs of
select and affluent consumers, offering access to more than 850 airport
lounges worldwide, and providing corporations and small business owners
with a complete array of expense management solutions. With acceptance
in 190 countries and territories, millions of merchant locations and
access to more than 1 million cash access locations and ATMs, Diners
Club, as a part of the Discover Global Network, is uniquely qualified to
serve its cardmembers all over the world. Diners Club International is a
wholly owned subsidiary of Discover Financial Services (NYSE: DFS), a
direct banking and payment services company with one of the most
recognized brands in U.S. financial services. For more information,
visit www.dinersclub.com.