Discover Financial Services (NYSE:DFS) is a diversified direct banking and payment services company headquartered in Riverwoods, Illinois. The company’s core business centers on the Discover® credit card, one of the largest credit card brands in the United States. Through its direct banking subsidiary, Discover Bank, the company also offers a range of consumer banking products designed to complement its credit franchise, including checking accounts, savings accounts, money market accounts and certificates of deposit.
Beyond its credit card and deposit offerings, Discover Financial Services provides an array of lending products tailored to consumer needs. These include personal loans, student loans and home equity loans, as well as debt consolidation loans. Each product is supported by digital tools and customer service platforms intended to simplify application, management and payment processes, reflecting the company’s emphasis on technological innovation and customer engagement.
In addition to its retail banking and lending operations, Discover Financial Services operates a global payments network. Discover® Network processes credit and debit card transactions at millions of merchant locations in the United States, while its PULSE® network provides ATM and point-of-sale acceptance for debit card transactions. The company’s network services division also facilitates clearing and settlement, fraud management and value-added services for merchants and financial institutions.
Originally launched as part of Sears in 1985 and introduced to the public in 1986, Discover has evolved through a series of spin-offs and acquisitions to become an independent publicly traded company (NYSE:DFS). Over the years, Discover has expanded its footprint across the United States and maintains select international acceptance agreements to serve cardholders abroad. Under the leadership of CEO Roger Hochschild, the company continues to pursue growth through product innovation, strategic partnerships and investments in digital capabilities.
