Discover Extends Tie-Up with RSB - Analyst Blog
05 Settembre 2012 - 2:00PM
Zacks
In an effort to further strengthen its presence in Russia,
Discover Financial Services (DFS) has penned a
contract with Russian Standard Bank (“RSB”) to issue and promote
Discover cards in Russia. The agreement, duly signed yesterday at
Moscow, takes the partnership of the two organizations a step
further as they continue to mutually benefit each other in numerous
ways.
RSB will benefit from the improvised technical expertise
mastered by Discover as well as boost its card portfolio by the
addition of Discover cards. RSB, in turn, will support the
company’s growth plans and increase its customer-base
significantly.
The partnership will, for the first time, make Discover cards
available in the European market. Following the news, Discover’s
shares gained 2 cents over last Friday to close at $38.75
yesterday.
The news comes on the heels of Discover extending its network
provider agreement with Motorola Employees Credit Union (“MECU”) to
use PULSE’s PIN debit network for monetary transactions accessible
to 39,000 MECU members.
The company’s competitors are also aggressively expanding their
geographic presence. MasterCard Inc. (MA)
announced a five-year strategic alliance with UK’s most dominant
communications company – Everything Everywhere – in an attempt to
expand its digital payment platform across the Atlantic.
The collaboration will allow MasterCard to enhance mobile
commerce (m-commerce) and other digital payments services in the
extensive UK market. Currently, Everything Everywhere enjoys a
client base of more than 27 million customers.
Discover carries a Zacks #2 Rank, which translates into a
short-term Buy rating. We maintain a long-term 'Outperform'
recommendation on its shares.
DISCOVER FIN SV (DFS): Free Stock Analysis Report
MASTERCARD INC (MA): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Grafico Azioni Discover Financial Servi... (NYSE:DFS)
Storico
Da Giu 2024 a Lug 2024
Grafico Azioni Discover Financial Servi... (NYSE:DFS)
Storico
Da Lug 2023 a Lug 2024