Edition:
United States

Profile: Discover Financial Services (DFS.N)

DFS.N on New York Stock Exchange

57.39USD
23 Sep 2016
Change (% chg)

$-0.41 (-0.71%)
Prev Close
$57.80
Open
$57.60
Day's High
$57.89
Day's Low
$57.33
Volume
969,505
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791,633
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$60.29
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$42.86

Discover Financial Services (DFS), incorporated on July 25, 1960, is a direct banking and payment services company. The Company is a bank holding company, as well as a financial holding company. The Company operates through two segments: Direct Banking and Payment Services. It provides direct banking products and services and payment services through its subsidiaries. It offers its customers credit card loans, private student loans, personal loans, home equity loans and deposit products.

Direct Banking

The Company's Direct Banking segment includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services. The Company's direct banking offers credit cards, student loans, personal loans, home equity loans, and other consumer lending and deposit products. Credit card customers are permitted to revolve their balances and repay their obligations over a period of time and at an interest rate set forth in their card member agreements, which may be either fixed or variable. Its credit card customers' transactions in the United States are processed over the Discover Network. Its cards also offer the Cashback Bonus rewards program.

The Company's private student loans are available to students attending eligible non-profit undergraduate and graduate schools. It also offers certain post-graduate loans, including bar study and residency loans. The Company's personal loans are unsecured loans with fixed interest rates, terms and payments. These loans are primarily intended to help customers consolidate existing debt, although they can be used for other reasons. Home equity loans are offered to help consumers improve their homes as well as payoff higher interest debt. The Company's deposit products include certificates of deposit, money market accounts, online savings and checking accounts and individual retirement arrangement (IRA) certificates of deposit.

Payment Services

The Payment Services segment includes PULSE and the Company's Network Partners business. Its Network Partners business provides payment transaction processing and settlement services on the Discover Network. The Discover Network processes transactions for Discover-branded credit cards and provides payment transaction processing and settlement services. PULSE operates an electronic funds transfer network, providing financial institutions issuing debit cards on the PULSE network with access to automated teller machines (ATMs) domestically and internationally, as well as point-of-sale (POS) terminals at retail locations across the United States for debit card transactions. PULSE provides cash access at approximately 1.8 million ATMs in over 130 countries. The financial institutions, networks and commercial service providers are considered as network partners.

The Company competes with American Express, Bank of America, JPMorgan Chase, Citi, Wells Fargo, PNC, U.S. Bank, Visa, MasterCard, American Express, First Data, USAA, Ally Bank, Capital One (360), Sallie Mae and Barclays.

Company Address

Discover Financial Services

2500 Lake Cook Rd
RIVERWOODS   IL   60015-3851
P: +1224.4050900
F: +1302.6555049

Company Web Links