DFS Partners Interswitch - Analyst Blog
13 Marzo 2013 - 10:20AM
Zacks
Recently, Discover Financial Services (DFS)
announced a long-term agreement with Nigeria-based Interswitch
Limited, whereby Discover and Diners Club International (DCI) cards
will be accepted at all ATMs and point-of-sale (POS) terminals
supporting Interswitch’s network in Nigeria. Moreover, the holders
of Verve cards will have access to the Discover global network –
which comprises the Discover, DCI and PULSE networks along with
Discover Financial’s partner networks – for international card
transactions. Interswitch is the promoter of Verve.
The companies have planned a three-phase implementation of the
agreement. In the initial phase, the Verve cardholders will gain
access to the global ATM network of PULSE. Thereafter, the Discover
and DCI cards will gain access to the Interswitch ATM and POS
network. In the final phase, the Verve cardholders will gain access
to the Discover global network, which has presence in over 185
countries and territories.
Additionally, Discover Financial and Interswitch will work
together to integrate DFS’s DPAS EMV solutions and fraud monitoring
solutions to enhance transaction security on both networks. They
will also consider opportunities for further collaboration in the
future.
The agreement is an important step in strengthening Discover
Financial’s global payment network. The company is widening its
network to provide wider options to individual and institutional
clients. Apart from offering a global reach, the company strives to
fulfill the localized preferences of clients by teaming up with
regional payment networks, such as Interswitch, which is the
largest integrated payment processing service provider in
Nigeria.
Discover Financial is working hard to establish a foothold in
the international card market through various alliances. The
company now has a presence in China, Japan, Korea, Serbia and
India, among others. Peers in the card business, such as
Visa Inc. (V) and MasterCard
Incorporated (MA) also regularly form alliances to expand
their network presence in the competitive credit card market.
Discover Financial currently carries a Zacks Rank #3 (Hold).
Another company worth considering in the financial sector is
Encore Capital Group, Inc. (ECPG), which carries a
Zacks Rank #2 (Buy).
DISCOVER FIN SV (DFS): Free Stock Analysis Report
ENCORE CAP GRP (ECPG): Free Stock Analysis Report
MASTERCARD INC (MA): Free Stock Analysis Report
VISA INC-A (V): Free Stock Analysis Report
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