Remember Diners Club? NAB is finally killing off the storied credit card
But the big four bank has masterfully retained a lucrative government contract to cover public servants' travel and expenses.
NAB is quietly killing off the Diners Club franchise in Australia but will retain a lucrative deal with the government to supply public servants with credit cards to pay for travel and expenses.
In September all federal employees will cut up their long-held Diners Cards and begin putting all of their travel expenses onto a physical and digital NAB-branded Visa product.
The move will see the big four bank funnel around $2 billion to $3 billion worth of government spending through NAB’s own products, according to payments consultant Grant Halverson.
“This is a big prize. It’s the biggest account in Australia and the biggest corporate spender by far,” Halverson, who was also the managing director of Diners Club between 1988 and 1999, said.
