SINGAPORE – The financial firm previously known as Diners Club Singapore may have dropped off the radar for many consumers, but its new boss has a message: “We still exist.”

Chief executive Karen Low’s undaunted tone reflects the resolve of DCS Card Centre, as the company is now known, as it embarks on ambitious rebranding efforts.

These include expanding its offerings to fintech and crypto payments as part of its moves to reach a wider range of users. 

Ms Low said: “We want to announce that we still exist. With our new business, we want to showcase some of the new products and services we have.

“We’re not restarting from scratch, but adopting new revenue streams and working towards a different mission, which is to make credit more accessible to consumers and corporations via new payments products and solutions.”

Some of DCS Card Centre’s existing products include co-brand credit cards with retailers such as Sheng Siong, Don Don Donki and Popular.

Its new strategy encompasses expanding its card issuance and merchant acquiring services to include major payments networks such as Visa, Mastercard and UnionPay in addition to the Diners Club network.

It will also provide merchant acquiring services for Alipay, WeChat Pay and SGQR. 

Card issuance occurs when a financial institution provides a debit/credit card to customers, while merchant acquiring involves providing payment terminals for retailers and collecting payments from card issuers like banks. 

DCS Card Centre has 300,000 cardholders across all its credit cards, including the co-brand cards and new ones issued under the Mastercard and UnionPay networks. It plans to introduce Visa credit cards later in 2023.

It has also introduced a cryptocurrency payment token named DUS, which is pegged to the United States dollar on a one-to-one ratio.

Ms Low, who joined the company in 2022, said DUS will allow merchants and corporations to transact in crypto. 

She added that the company is in discussions with crypto exchanges to list DUS and widen its possible uses.