Creditcall, a payment gateway provider and EMV migration specialist, and Diners Club International, a business unit of Discover Financial Services (NYSE:DFS) and part of the Discover Global Network have announced a signed agreement that will expand the acceptance of Discover and Diners Club cards worldwide.
This agreement is part of Discover Global Network’s overall strategy to partner with key payment solution providers, such as Creditcall, to help drive increased Discover and Diners Club card acceptance. The agreement also means that Creditcall will, as standard, certify new solutions for Discover across future processor certifications, widening the reach of card acceptance for both parties. Creditcall is a leader in a number of sectors – from transportation ticketing and parking to vending, retail and hospitality. Some of the largestUK transit system providers – such as Atos and Cubic, already use Creditcall’s payment gateway.
“Working with Creditcall is an important step in securing card acceptance at merchants around the globe,” said Gerry Wagner, vice president, Discover Global Network. “This agreement will increase the number of merchants that card members have access to in over 30 countries.”
Discover Global Network is the third largest payments network in the world and the largest merchant acceptance network in Asia-Pacific. With more than 30 million merchant acceptance locations and one million ATM and cash access locations across 185 countries and territories, Discover Global Network includes Discover, Diners Club International, PULSE and affiliated networks.
Creditcall’s range of payment solutions includes in-store, online and mobile card payment acceptance as well as products to simplify and speed up EMV migration, helping countries transition from magnetic stripe card acceptance to the Chip and PIN. Creditcall works across a range of industries where secure, reliable and trusted payment capabilities are essential, including parking, vending, transportation, hospitality and retail.
“Creditcall is pleased to be strengthening its relationship with Discover through this joint initiative which benefits Creditcall’s past, present and future customers, giving them a wider, enhanced offering,” said Sian Bosley, commercial director of Creditcall. “We look forward to working closely with Discover to help expand their card acceptance acrossEurope. This is a great example of a leading card scheme recognizing that Creditcall is a global leader in the payments industry and can contribute to their success.” (Original Source)
Shares of Discover Financial Services closed yesterday at $55.24 . DFS has a 1-year high of $66.75 and a 1-year low of $54.02. The stock’s 50-day moving average is $58.31 and its 200-day moving average is $58.46.
On the ratings front, Discover Financial Services has been the subject of a number of recent research reports. In a report issued on July 23, Deutsche Bank analyst David Ho maintained a Hold rating on DFS, with a price target of $64, which represents a potential upside of 15.9% from where the stock is currently trading. Separately, on July 14, Oppenheimer’s Ben Chittenden reiterated a Buy rating on the stock and has a price target of $76.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, David Ho and Ben Chittenden have a total average return of 0.9% and -8.9% respectively. Ho has a success rate of 45.0% and is ranked #2261 out of 3717 analysts, while Chittenden has a success rate of 34.8% and is ranked #3600.
Discover Financial Services is a direct banking and payment services company. The Company offers credit card loans, private student loans, personal loans, home equity loans and deposit products.