Diners Club Singapore Changes Label to DCS

DCS Card Centre (DCS), a Singapore-based payment firm, announced Aug 2 that it has rebranded from Diners Club Singapore to DCS, marking a significant transformation of the financial institution (FI).

Previously established as an exclusive franchise of Diners Club International, acting as its sole issuer and acquirer in Singapore, DCS said in a statement on Wednesday that the name change is necessary to support product expansion with other global card schemes such as Mastercard, UnionPay, and Visa.

Concurrently, DCS is launching a new suite of products and services for consumers, merchants, and small and medium-sized enterprises (SMEs) that are innovative and user-centric.

Founded in 1973, DCS was set up as an exclusive franchise of Diners Club International in Singapore with a focus on cards issuing and acquiring for the network.

Co-brand cards with Sheng Siong, Don Don Donki, and Vicom are among the notable credit cards it currently issues.

As a non-bank licenced to issue credit and charge cards, the FI is governed by the Monetary Authority of Singapore (MAS) under the Banking Act.

This gives DCS the same authority to provide a variety of financial services as defined by its credit and charge card licence, but without the massive overheads of full-service banks. It is now concentrating on transforming itself into a fintech company capable of breaking new ground in the payments sector with innovative products and services.