Last $62.34 USD
Change Today -0.45 / -0.72%
Volume 2.3M
DFS On Other Exchanges
New York
As of 8:04 PM 07/29/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

2500 Lake Cook Road

Riverwoods, IL 60015

United States

Phone: 224-405-0900


ly 2,000 additional financial institutions through agreements PULSE has with other debit networks. PULSE also provides cash access at 1.3 million ATMs in approximately 120 countries. PULSE's primary source of revenue is transaction fees charged for switching and settling ATM, personal identification number (PIN) POS debit and signature debit transactions initiated through the use of debit cards issued by participating financial institutions. In addition, PULSE offers various optional products and services that produce income for the network, including signature debit transaction processing, debit card fraud detection and risk mitigation services, and connections to other regional and national electronic funds transfer networks. When a financial institution joins the PULSE network, debit cards issued by that institution are eligible to be used at all of the ATMs and PIN POS debit terminals that participate in the PULSE network, and the PULSE mark can be used on that institution's debit cards and ATMs. In addition, financial institution participants may sponsor merchants, direct processors and independent sales organizations to participate in the PULSE PIN POS and ATM debit service. A participating financial institution assumes liability for transactions initiated through the use of debit cards issued by that institution, as well as for ensuring compliance with PULSE's operating rules and policies applicable to that institution's debit cards, ATMs and, if applicable, sponsored merchants, direct processors and independent sales organizations. When PULSE enters into a network-to-network agreement with another debit network, the other network's participating financial institutions' debit cards can be used at terminals in the PULSE network. Diners Club The company’s Diners Club business maintains an acceptance network in approximately 185 countries and territories through its relationships with approximately 80 licensees, which are generally financial institutions. The company’s licensees pay it royalties for the right to use the Diners Club brand, which is its primary source of Diners Club revenues. The company also earns revenue from providing various support services to its Diners Club licensees, including processing and settlement of cross border transactions. The company also provides a centralized service center and Internet services to its licensees. The company works with merchant acquirers to offer Diners Club and Discover acceptance to their merchants. These acquirers are granted licenses to market the Diners Club brands to existing and new merchants. Diners Club cardholders with cards issued by licensees outside of North America continue to use their cards on the Discover Network in North America and on the PULSE and Diners Club network domestically and internationally. Network Partners Business The company has agreements related to issuing credit, debit and prepaid cards with various other financial institutions or networks for issuance of card products accepted on Discover networks. The company refers to these financial institutions or networks as network partners. Protection Products The company services and maintains existing enrollments in the following protection products for its credit card customers. Identity Theft Protection: The most comprehensive identity theft monitoring product the company offers includes an initial credit report, credit bureau report monitoring at the three major credit bureaus, prompt alerts to key changes to credit bureau files that help customers spot possible identity theft quickly, Internet surveillance to monitor up to 20 credit and debit card numbers on suspicious Websites, identity theft insurance up to $25,000 to cover certain out-of-pocket expenses due to identity theft, and access to knowledgeable professionals who can provide information about identity theft issues. Payment Protection: This product allows customers to suspend their payments for up to two years, depending on the qualifying event and product level, when certain hardships occur. This product covers various different events, such as unemployment, disability, natural disasters


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Industry Analysis


Industry Average

Valuation DFS Industry Range
Price/Earnings 12.3x
Price/Sales 4.1x
Price/Book 2.6x
Price/Cash Flow 11.8x
TEV/Sales NM Not Meaningful

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