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Discover Financial (DFS) Expands in Bahrain via Eazy Financial

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Discover Financial Services (DFS - Free Report) entered into an agreement with Eazy Financial Services to boost acceptance for the cardholders of both companies.

With this alliance, Discover, Diners Club International and network alliance cardholders will now be able to use their card at 95% of point-of-sale merchants and 100% of ATMs in Bahrain. Customers will be able to use the Discover Global Network and complete transactions via more than 50 million merchants in above 200 countries and territories.

This tie-up is expected to augment almost 100% reach for Discover Global Network cardholders making transactions in the region.

Notably, Eazy Financial will be able to gain traction from Discover Financial’s customer acquisition opportunities.

Discover Financial is on track to penetrate the Bahrain market, which holds plenty of opportunities for the industry player. Notably, it is the company’s sixth collaboration in the Middle East and North Africa area. Recently, it forged an alliance with the market-leading digital payment solutions company and fintech enabler Arab Financial Services (AFS).

Through this deal, Discover, Diners Club International and network alliance cardholders will initially be able to use their respective cards at the AFS Android-based point-of-sale (POS) terminals across the Kingdom of Bahrain
In March, Discover Financial inked a deal with Network International Jordan, which operates Jordanian national switch JONET to allow merchant acceptance in the region for Discover, Diners Club International and the network alliance cardholders. Notably, Network International Jordan is a market-leading enabler of digital commerce in the Middle East and Africa.

In the same month, this Zacks Rank #1 (Strong Buy) player also reached an agreement with Payments Network Malaysia SdnBhd (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.

Discover Financial keeps collaborating with companies to provide a global foothold to its partners.

The company has been constantly taking initiatives to extend its presence, which poise it well for long-term growth.

Price Performance

Shares of this company have soared a whopping 182.8% in a year’s time compared with the industry’s rally of 141.6%. Moreover, several factors, such as a strong Direct Banking business, global expansions, cost-curbing measures and a strong balance sheet will likely help the stock continue with its rally going forward. You can see  the complete list of today’s Zacks #1 Rank stocks here.

Some other companies worth considering in the same space are Ally Financial Inc. (ALLY - Free Report) , SLM Corporation (SLM - Free Report) , and Navient Corporation (NAVI - Free Report) , all sporting a Zacks Rank of 1.

SLM Corporation, Navient and Ally Financial delivered a trailing four-quarter surprise of 23.6%, 61.6% and 110.5%, respectively, on average.

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