Discover Financial Services (NYSE:DFS)’s Direct Banking and Payment Services


Dallas, Texas 11/06/2013 (Financialstrend) – In Tuesday’s trading, Discover Financial Services (NYSE:DFS) dropped by 0.57%. The opening price of the shares was $51.97, which climbed to an intraday high of $52.32 and dipped to a close of $51.92. Approximately 2.42 million shares were traded on Tuesday while an average volume of 3.14 million shares were traded over a 30 day period. The 52-week low of Discover Financial Services (NYSE:DFS) shares is $37.24 and its 52-week high is $54.45. The company has a market capitalization of $25.03 billion.                                        

About the company

Discover Financial Services (NYSE:DFS) was incorporated on 25 July 1960. It is a direct banking & payment services company. It is a bank holding-company & a financial-holding company. It offers credit cards, student-loans, personal loans &deposit products via Discover Bank, its subsidiary as well as home loans via Discover Home Loans. This is also a subsidiary of the company.

It operates the Discover Network, the credit card-payments network and the PULSE network. The company’s automated teller machine, debit & electronic funds-transfer network as well as the Diners Club International- the company’s its global-payments network. Discover Financial Services (NYSE:DFS) operates in two distinct business segments: 1- Direct Banking and the 2nd segment is Payment Services. In 2012 June Tree.Com Inc sold-off the operating-assets of the company’s Home Loan Center business to the wholly-owned subsidiary of Discover Financial Services.

Direct Banking

Discover Financial Services (NYSE:DFS) offers its credit cards to consumers & small businesses. Its credit card customers are allowed to revolve their own balances & repay their obligations over time & at the interest rate that has been set in their card-member agreements. These could be either fixed /variable.

The interest that is earned by the company is on the revolving credit-card balances and accounts for almost 86% of the company’s total interest income. Discover Financial Services (NYSE:DFS) also charges customers various other fees, including-fees for late-payments, balance-transfer transactions & cash-advance transactions.

Subscribe to get your free report!

* indicates required
*Past performance is not a predictor of future results. All investing involves risk of loss and individual investments may vary. The examples provided may not be representative of typical results. Your capital is at risk when you invest – you can lose some or all of your money. Never risk more than you can afford to lose.By submitting your information you agree to the terms of our Privacy Policy • Cancel Newsletter Any Time.This is a FREE service from Finacials Trend. Signing up for our FREE daily e-letter also entitles you to receive this report. We will NOT share your email address with anyone.