Direct banking and payment services company offering credit cards, personal loans, and banking services.
Discover Financial Services, along with its subsidiaries, is a prominent provider of digital banking products, payment services, and financial solutions across the United States. The company operates through two core segments: Digital Banking and Payment Services, catering to diverse consumer and commercial needs.
In the Digital Banking segment, Discover Financial Services offers a range of financial products under its renowned Discover brand. These include credit cards tailored to individual preferences, private student loans, personal loans, home loans, and various other consumer lending options. Additionally, the segment provides direct-to-consumer deposit products such as savings accounts, certificates of deposit, money market accounts, IRA savings and checking accounts, and sweep accounts, ensuring comprehensive banking solutions.
The Payment Services segment oversees significant networks vital to the financial industry. This includes PULSE, a comprehensive automated teller machine (ATM), debit, and electronic funds transfer network widely used across the country. Moreover, Discover Financial Services manages Diners Club International, a global payments network known for issuing Diners Club branded charge cards and facilitating card acceptance services worldwide. The segment also offers robust payment transaction processing and settlement services, contributing to its extensive footprint in the financial services sector. Founded in 1960 and headquartered in Riverwoods, Illinois, Discover Financial Services continues to innovate and expand its offerings, maintaining a strong commitment to customer-centric financial solutions.