We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Discover Financial (DFS) Ties Up With PayNet to Ease Payments
Read MoreHide Full Article
Discover Financial Services (DFS - Free Report) recently inked a deal with Payments Network Malaysia Sdn Bhd (PayNet) that will increase acceptance for Discover, Diners Club International and network alliance cardholders in the country. Notably, PayNet is the national payments network and shared central infrastructure for payments in Malaysia.
The move is in sync with the company’s aim to increase presence in APAC region. This is also part of its endeavor to support current partners in Singapore, China, India and Japan by potentially starting acceptance at 10,000 ATM locations and more than 570,000 point-of-sale terminals throughout Malaysia.
The company has been building several relationships over the past few years in China, Hong Kong, Taiwan, Cambodia, Vietnam and New Zealand. This has bolstered its acceptance in the region by 14% last year. We believe that this initiative will bolster its acceptance even further.
Notably, PayNet is the right choice for the move. This agreement is also expected to boost sales opportunities for the Malaysian businesses. The region presents ample prospects and thus, the deal is a time opportune one for Discover Financial.
Last month, it entered into an agreement with instalment payment platform Sezzle, Inc. through which Sezzle will be allowed to work with certain merchants on the Discover Global Network.
The company constantly works on including options for its customers so that they can enjoy a better experience.
Discover Financial is making continuous efforts by teaming up with leading organizations to increase its acceptance worldwide. The leading card issuer company has a network of more than 50 million merchant acceptance locations and 2 million ATM and cash access locations worlwide. The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 20 alliance partner networks globally.
Other companies in the same space, such as SLM Corporation (SLM - Free Report) , Capital One Financial Corporation (COF - Free Report) and Synchrony Financial (SYF - Free Report) have also rallied 146.7%, 145.9% and 175%, respectively, in the same time frame.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early. See Zacks' 3 Best Stocks to Play This Trend >>
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
Discover Financial (DFS) Ties Up With PayNet to Ease Payments
Discover Financial Services (DFS - Free Report) recently inked a deal with Payments Network Malaysia Sdn Bhd (PayNet) that will increase acceptance for Discover, Diners Club International and network alliance cardholders in the country. Notably, PayNet is the national payments network and shared central infrastructure for payments in Malaysia.
The move is in sync with the company’s aim to increase presence in APAC region. This is also part of its endeavor to support current partners in Singapore, China, India and Japan by potentially starting acceptance at 10,000 ATM locations and more than 570,000 point-of-sale terminals throughout Malaysia.
The company has been building several relationships over the past few years in China, Hong Kong, Taiwan, Cambodia, Vietnam and New Zealand. This has bolstered its acceptance in the region by 14% last year.
We believe that this initiative will bolster its acceptance even further.
Notably, PayNet is the right choice for the move. This agreement is also expected to boost sales opportunities for the Malaysian businesses. The region presents ample prospects and thus, the deal is a time opportune one for Discover Financial.
Last month, it entered into an agreement with instalment payment platform Sezzle, Inc. through which Sezzle will be allowed to work with certain merchants on the Discover Global Network.
The company constantly works on including options for its customers so that they can enjoy a better experience.
Discover Financial is making continuous efforts by teaming up with leading organizations to increase its acceptance worldwide. The leading card issuer company has a network of more than 50 million merchant acceptance locations and 2 million ATM and cash access locations worlwide. The Discover Global Network includes Discover Network, Diners Club International, PULSE and more than 20 alliance partner networks globally.
Zacks Rank and Price Performance
Shares of this Zacks Ranked #3 (Hold) company have soared a whopping 180.3% in a year’s time, compared with the industry’s rally of 137.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
.jpg)
Other companies in the same space, such as SLM Corporation (SLM - Free Report) , Capital One Financial Corporation (COF - Free Report) and Synchrony Financial (SYF - Free Report) have also rallied 146.7%, 145.9% and 175%, respectively, in the same time frame.
The Hottest Tech Mega-Trend of All
Last year, it generated $24 billion in global revenues. By 2020, it's predicted to blast through the roof to $77.6 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for regular investors who make the right trades early.
See Zacks' 3 Best Stocks to Play This Trend >>