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Discover Financial Unit Ties Up to Drive Gobal Card Approval

Zacks Equity Research
Updated

Discover Financial Services’ DFS unit Diners Club International along with a certain portion of Discover Global Network has announced its collaboration with PXP to boost the acceptance of Discover cards around the globe. This deal is part of the company’s strategy to work with leading payment solution providers like PXP, which help strengthen its number of merchants that accept Discover, Diners Club, PULSE and affiliate network cards.

It will allow Discover Financial to tap the key markets since PXP offers merchants to use omni-channel payment applications across retail, cruise and travel plus entertainment sectors. Customers would be able to use the card of their choice from now onward.

The company has over 42 million merchant acceptance locations and 2 million ATM and cash access locations across 190 countries and territories. Discover Global Network includes Discover, Diners Club International, PULSE and affiliated networks.

Notably, PXP is also looking forward to this deal as this would allow the company to enhance its global footprint. Allowing customers to use cards or payment acceptance channels of their choice is extremely vital in the payment solution industry.

Discover Financial has been consistently putting in efforts to launch products that would suit specific customer needs, which in turn, have attracted more and more customers. Its strategic initiatives such as acquisitions and partnerships have helped its card sales volume rise at 4% average from 2013 to 2017,  which  continued through the first nine months of 2018.. Given its significant investments, the company will likely witness its card sale volume expand going forward.

Shares of this Zacks Rank #3 (Hold) company have rallied 6.8% in a year’s time against its industry's decline of 5.2%.


Stocks to Consider

Some better-ranked stocks are Enova International, Inc. ENVA, SLM Corporation SLM and Ally Financial Inc. ALLY. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Enova provides online financial services. The company sports a Zacks Rank #1 (Strong Buy) and came up with the average four-quarter earnings surprise of 19.68%.

SLM Corporation is a saving, planning and paying for college company in the United States, which delivered the average four-quarter beat of 5.30%. The stock carries a Zacks Rank #2 (Buy).

Ally Financial offers various financial products and services in the United States and Canada. The company has a Zacks Rank of 2 and pulled off the average four-quarter positive surprise of 13.08%.

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Enova International, Inc. (ENVA) : Free Stock Analysis Report
 
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Discover Financial Services (DFS) : Free Stock Analysis Report
 
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