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Discover Financial's (DFS) Payment Brand Ties Up With Verve

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Discover Financial Service’s (DFS - Free Report) payment brand Discover Global Network and Verve, a market-leading payments technology company, recently collaborated to launch the Verve Global Card. Cardholders will now have access to use their Verve Global Cards on the Discover Global Network that will enable acceptance at multiple merchants worldwide.

This facility will enhance Verve’s current suite of payment products and solutions for its users. The customers will gain traction from this collaboration as the same will allow new international and cross-border transactions. The new card holders can transact outside Nigeria on the Discover Global Network that includes transaction points of Discover, Diners Club International, Pulse and affiliate network cards. Customers will also be able to enjoy additional benefits, such as broad reward and loyalty schemes.

Discover Financial expects to ease the current barriers for Verve card holders with this unique tie-up. The move is inline with the company’s strategic aim to extend acceptance of other cardholders on its network.

Its payment brand also entered into an agreement with Sage Pay in May via which, the latter provides to Discover Global Network cardholders with better and wider options for online and in-store purchases that consist of Discover, Diners Club and affiliate network cardholders in the UK and across Ireland.

Moreover, Discover Financial teamed up with Borica AD, the owner of Bulgaria’s national payment scheme Bcard, throughwhich Bcard’s Global Cards outside Bulgaria will be allowed operation on the Discover Global Network.

Discover Financial is one of the major card issuers in the United States and a leading innovator in the credit card industry. It is active in forging alliances and partnerships owing to which, card sales volume expanded on average rate of 4.6% in the last five years (2013-2018), primarily riding on the rise in its customer base using Discover card.

Shares of this Zacks Rank #2 (Buy) company have gained 2.3% in a year’s time against its industry’s decline of 6.8%.

Other Stocks to Consider

Investors interested in the finance sector may also consider some other top-ranked stocks like Visa Inc. (V - Free Report) , Cardtronics PLC (CATM - Free Report) and PayPal Holdings, Inc. (PYPL - Free Report) . You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Visa works as a payments technology company worldwide. It pulled off average four-quarter positive surprise of 3.4%. It is a Zacks #2Ranked player.

Cardtronics offers automated consumer financial services through its network of automated teller machines and multi-purpose financial services kiosks. The company came up with average four-quarter beat of 37.5% and sports a Zacks Rank #1.

PayPal works as a technology platform and digital payments company. It delivered average four-quarter positive surprise of 10.4% and carries a Zacks Rank of 2.

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