Discover Financial Services DFS along with Borica AD, the owner of Bulgaria’s national payment scheme Bcard, has inked a strategic deal, per which Bcard’s Global Cards outside Bulgaria will be allowed on the Discover Global Network.
Bcard and Discover Financial will team up on the integration of the latter’s EMV contact, contactless and mobile solutions — D-PAS — for its global usage in order to provide secure transactions. Member banks of Bcard will get a solution for the acceptance of Bcard’s Global Cards outside Bulgaria in the Discover Global Network.
Notably, this contract will benefit Bcard as it will be able to serve customers outside its territory of Bulgaria. Bcard’s member banks can now access a locally useful and highly competent platform, a slew of products along with an opportunity to choose from unique payment products.
This partnership completely aligns with Discover Financial’s commitment toward boosting card acceptance across the world. It has been constantly tying up with companies to provide multiple transaction options to customers.
Recently, the company’s payment brand, Discover Global Network, entered into an agreement with Sage Pay via which, the latter provides better and wider options to pay for online and in-store transactions to Discover Global Network cardholders that consist of Discover, Diners Club and affiliate network cardholders in the UK and Ireland.
Discover Financial is one of the major card issuers in the United States and a leading innovator in the credit card industry. It has more than 44 million merchant acceptance locations and two million ATM and cash access sites across more than 190 countries and territories.
The company has been active in forging alliances and partnerships, on the back of which, card sales volume expanded on average rate of 4.6% in the last five years (2013-2018), primarily owing to a rise in the number of customers using Discover card.
We believe, significant investments in marketing and business development will consistently favor Discover Financial’s card account growth and card sales volumes in the future.
Shares of this Zacks Rank #3 (Hold) company have gained 3.8% in the past year against its industry’s decline of 5.5%.
Stocks to Consider
Investors interested in the same space may take a look at some better-ranked stocks like Mastercard Incorporated MA, PayPal Holdings, Inc. PYPL and Global Payments Inc. GPN, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Mastercard provides transaction processing and other payment-related products and services in the United States and across the globe. The stock managed to pull off average four-quarter positive surprise of 5.8%.
PayPal works as a technology platform and digital payments company. It delivered average four-quarter positive surprise of 7.6%.
Global Payments offers payment technology and software solutions and it came up with average four-quarter beat of 3.1%.
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