Discover Financial Services said Tuesday that it has purchased Citigroup Inc.'s Diners Club International credit card network.
The Riverwoods, Ill., card company paid $165 million for the network, which it has said will help it boost acceptance in the United States and abroad.
Diners Club cards are accepted in 185 countries, and generate more than $30 billion per year in international transaction volume. The deal was announced in April.
Discover's chief executive, David Nelms, said in a press release that the purchase "provides us with a path to achieving global acceptance."
