Businessweek

tions, including American Express, Bank of America, Capital One (ING), JPMorgan Chase, and Citi. The company’s student loan product competes for customers with Sallie Mae and Wells Fargo, as well as other financial institutions that offer student loans. Its personal loan product competes for customers primarily with JPMorgan Chase, Capital One (ING), Wells Fargo, and Citi. Its home loan product competes for customers primarily with traditional lending institutions, including Wells Fargo, Bank of America, JPMorgan Chase, and Citi. The Diners Club and Discover networks' primary competitors include Visa, MasterCard, and American Express; and PULSE's network competitors include Visa's Interlink, MasterCard's Maestro, and First Data's STAR. American Express is a competitor to Diners Club. In the company’s direct-to-consumer deposits business, it has acquisition and servicing capabilities similar to other direct competitors, including USAA, Ally Financial, American Express, Capital One (ING), Sallie Mae, and Nationwide. Significant Events In May 2013, Discover Financial Services and Network International LLC announced a strategic alliance that would allow acceptance of Mercury Network Cards on Discover, Diners Club International and PULSE networks for international purchases and cash access outside of U.A.E.