Discover Financial Services (NYSE: DFS) is a leading credit card issuer and electronic payment services company with one of the most recognized brands in U.S. financial services. Since our inception in 1986, we have grown to become one of the largest card issuers in the United States. Our payments businesses consist of the Discover Network, with millions of merchant and cash access locations, and PULSE, one of the nation's leading ATM/debit networks.
Since Discover Card's launch in 1986, DFS has continuously been a leading innovator and driver of change in the credit card industry. From the outset, DFS has worked to expand Discover Network, a network that connects to millions of merchant and cash access locations, as well as markets and supports a full range of credit, debit, and prepaid cards, including the Discover Card.
The company's track record of pioneering accomplishments includes the introduction of cash rewards, known as "Cashback Bonus" - America's #1 Cash Rewards program, according to TNS 2007 Consumer Card Strategies Research data that shows more U.S. households have a Discover Card than any other cash rewards card. Discover Card was one of the earliest to offer 24/7 customer service and secure account numbers for online purchases.
U.S. Card Business
The U.S. sector of our card business operates a number of consumer and business credit cards, most of which are founded on a commitment to helping cardmembers earn more meaningful rewards, quickly and easily, while giving them more choices and control over their credit. We are one of the largest card issuers in the United States.
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Gives cardmembers who use credit in many different categories more ways to earn more cash on their purchases. |
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Rewards cardmembers for their good credit management. |
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For everyday spending with added value on gasoline and automotive purchases. |
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Rewards cardmembers who want flexible travel faster and without restrictions. |
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A single payment solution for small business owners who want financial flexibility and control. |
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Lets business owners earn Miles faster on travel and gas purchases with no blackout dates. |
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Prepaid stored value cards that can be personalized and used for purchases everywhere Discover Network Cards are accepted. |
As part of our U.S. card sector, DFS has two banking affiliates in the United States: Discover Bank and Bank of New Castle. We issue U.S. Discover Cards through Discover Bank, which is a Delaware corporation. Bank of New Castle activities are primarily limited to credit card operations.
Discover Bank offers a variety of products, including credit card loans, home loans, personal loans and student loans, as well as checking accounts, certificates of deposit and money market accounts. Discover Bank and the Bank of New Castle are chartered and regulated by the Office of the Delaware State Bank Commissioner and the FDIC, which insures their deposits and serves as the banks' federal banking regulator. Visit www.discoverbank.com
Two Leading Payments Networks
Discover Network's payments business includes two networks: Discover Network (www.discovernetwork.com), a comprehensive payments network that supports multiple card products, issuers and processors, and one of the leading ATM/debit networks, PULSE (www.pulse-eft.com). Together, these two networks support billions of financial transactions each year.
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Discover Network Discover Network, a business unit of Discover Financial Services, is a comprehensive and secure payments network. Discover Network markets and supports a full range of credit, debit and prepaid cards, including the Discover Card. Discover Network also provides customer-centric tools and programs designed to help issuers, acquirers and merchants drive loyalty, increase transaction volume, and run their business more effectively, with streamlined efficiencies. Connecting to millions of merchants in more than 30 countries and territories in North America, Central America and the Caribbean, Discover Network cards are increasingly becoming a leading payments choice for purchases made around the world. Discover Network's straightforward, collaborative, "roll-up-your sleeves" approach combined with its brand-driven economics provide a fresh new brand choice for issuers, acquirers and merchants that want to reach more customers more profitably. Discover Network Strategic Relationships Acting on the successful October 2004 U.S. Department of Justice case against Visa and MasterCard that led to a more competitive marketplace, Discover Financial Services has transformed from a single-product, merchant acquiring business and issuer into a leading payments network with multiple products, acquirers and issuers as its partners. As a result, Discover Network is aggressively pursuing a strategy designed to increase acceptance and leverage new opportunities that bring more choice and value to issuers, acquirers, merchants, and ultimately, consumers. As part of this strategy, Discover Network has established relationships with significant card issuers. In addition, its large-scale strategic effort to build acceptance of Discover Network cards among small- and medium-sized merchants, Discover Network has signed merchant acquiring agreements with the industry's leading acquirers. Discover Network also has formed strategic alliances with China UnionPay and JCB that provide for reciprocal card acceptance with merchants and at ATMs on these networks. In addition to its U.S.-based merchant acceptance locations, Discover Network cards also are accepted through cooperative relationships with in-country banks and processors in Canada, Mexico, Central America, and the Caribbean. Products and Services Leveraging its legacy of industry-leading fraud prevention, customer service, loyalty expertise, innovative partner marketing practices, as well as its hands-on merchant, issuing, and acquiring knowledge, Discover Network sets itself apart by delivering meaningful and differentiated solutions. Discover Network's measured, strategic approach in delivering the right products to its customers at the right time, helps it offer issuers, acquirers and merchants customer-centric products and programs. Discover Network products and programs include contactless payments, recurring billing, and cash over the amount of purchases made with a Discover Network card, as well as credit, debit and prepaid card and rewards programs that drive loyalty and increase profits. |
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PULSE Network Discover Financial Services owns PULSE EFT Association, one of the nation's leading electronic funds transfer networks. It serves more than 4,400 banks, credit unions and savings institutions across the country. The network links cardholders with nearly 260,000 ATMs, as well as POS terminals at retail locations nationwide. |
