Discover Financial Services (US)

The Discover Card is the #4 credit card brand behind Visa, MasterCard and American Express, operating primarily in North America. Market share is well below that of the big three, at around 2.4% of total purchase volumes in 2014. However, Discover prides itself on working harder to provide top-quality customer service. It has done this most effectively with the entertaining "Peggy" marketing campaign which suggests that other companies' call-centres are in reality run by incompetent foreigners in far-flung corners of the globe. Originally launched by retail group Sears Roebuck in 1986, Discover became the financial services division of investment banking giant Morgan Stanley in the 1990s. It was spun off to shareholders as an independent company in 2007. It is now mainly active in the US although it also has a presence in China through an alliance. In 2008 it acquired the global Diners Club business from Citigroup, and has a growing direct banking, mortgage and loan business. It also owns and operates the Pulse ATM network in the US. David Nelms is CEO. Revenues for 2015 were $8.7bn. Adbrands does not currently offer a business profile for this company but subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.

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Who are the competitors of Discover? See Financial & Insurance Sector index for other companies 

Capsule checked 17th March 2015

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