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Discover Financial (DFS) Ties Up to Boost Global Acceptance

Discover Financial Services DFS inked a deal with SIBS MB to enhance the global acceptance for both companies. With this agreement, Discover, Diners Club International and network alliance cardholders will now be able to use their cards on the SIBS MB network at merchant and ATM points in Portugal.

SIBS MB, headquartered in Lisbon, PT, is the SIBS Group company that allows transactions on above 23.7 million bank cards including cash withdrawals and electronic purchases at the ATM and POS of the MB Network.

The tie-up will even enable members of SIBS MB to issue MB cards, which can be used on the Discover Global Network for global purchases and cash withdrawals outside Portugal. It also offers access to more than 50 million outlets in 200 countries and territories through the Discover Global Network.

This apart, the collaboration aligns with SIBS MB’s aim to increase the number of payment options for members and reinforces its efforts to serve customers more efficiently. Tourists can now enjoy seamless shopping experience in Portugal.

Discover Financial constantly forges strategic alliances to expand its global reach and boost its portfolio. It has relationships with strong regional payments networks, such as the aforementioned SIBS MB and provides them with the required scale.

The company constantly works on integrating choices on a wider scale for its customers to enhance their experience.

In May, this financial consumer loans provider entered into an agreement with Eazy Financial Services to bolster acceptance for the cardholders of both companies. With this pact, Discover, Diners Club International and network alliance cardholders will 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 for completing transactions via more than 50 million merchants in 200 plus countries and territories.

It also signed a new network contract with market-leading digital payment solutions company and fintech enabler Arab Financial Services (AFS) to drive global acceptance for both companies.

Zacks Rank and Price Performance

Shares of this presently Zacks Rank #3 (Hold) company have soared a whopping 163.6% in a year’s time compared with the industry’s rally of 128%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


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Stocks to Consider

Some better-ranked stocks in the same space are Credit Acceptance Corporation CACC, Ally Financial Inc. ALLY and First Cash, Inc. FCFS, each carrying a Zacks Rank #2 (Buy) at present.

Credit Acceptance, Ally Financial and First Cash managed to deliver a trailing four-quarter surprise of 51.82%, 110.5% and 19.84%, respectively, on average.


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Discover Financial Services (DFS): Free Stock Analysis Report
 
First Cash, Inc. (FCFS): Free Stock Analysis Report
 
Credit Acceptance Corporation (CACC): Free Stock Analysis Report
 
Ally Financial Inc. (ALLY): Free Stock Analysis Report
 
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