Diners Club International
In 1996, Citibank, Itaucard and Unibanco believed it was necessary to have a company specialized in merchant acquiring and payment processing and founded Rede as Redecard by spinning off Credicard's merchant acquiring and payment processing activities. In that same year, Mastercard International also became a shareholder of Rede. Since then, Rede has been the main merchant acquirer and payment processor for Mastercard and Diners Club International branded credit and debit cards in Brazil.