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Discover Financial Services  (DFS)
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Discover Financial Services's

Competitiveness


 

DFS Sales vs. its Competitors Q4 2023



Comparing the current results to its competitors, Discover Financial Services reported Revenue decrease in the 4 quarter 2023 year on year by -20.11 %, despite the revenue increase by the most of its competitors of 0.29 %, recorded in the same quarter.

List of DFS Competitors

With a net margin of 16.61 % Discover Financial Services achieved higher profitability than its competitors.

More on DFS Profitability Comparisons



Revenue Growth Comparisons




Net Income Comparison


Discover Financial ServicesNet Income in the 4 quarter 2023 fell year on year by -63.19%, while most of its competitors have experienced a contraction in net income by -36.76 %.

<<  DFS Stock Performance Comparisons


Discover Financial Services's Comment on Competitors and Industry Peers


We compete with other consumer financial services providers and payment networks on the basis of a number of factors, including brand, reputation, customer service, product offerings, incentives, pricing and other terms. Our credit card business also competes on the basis of reward programs and merchant acceptance. We compete for accounts and utilization with cards issued by other financial institutions (including American Express, Bank of America, Capital One, JPMorgan Chase and Citi) and, to a lesser extent, businesses that issue their own private label cards or otherwise extend credit to their customers. In comparison to our largest credit card competitors, our strengths include cash rewards, conservative portfolio management and strong customer service. Competition based on cash rewards programs, however, has increased in recent years. Our student loan product competes for customers with Sallie Mae and Wells Fargo, as well as other financial institutions that offer student loans. Our personal loan product competes for customers primarily with JPMorgan Chase, Capital One, Wells Fargo and Citi. Our home loan product competes for customers primarily with traditional lending institutions, namely Wells Fargo, Bank of America, JPMorgan Chase and Citi, which operate in multiple distribution channels, including direct to consumer. Our home loan product also faces additional competition from direct lending websites owned and operated by other online lenders that originate the bulk of their loans through their websites or by phone. Our home equity product faces competition primarily from traditional branch lending institutions like Wells Fargo, JP Morgan Chase, US Bank and PNC.

Although our student and personal loan receivables have increased, our credit card receivables continue to represent most of our receivables. The credit card business is highly competitive. Some of our competitors offer a wider variety of financial products than we do, including automobile loans, which may currently position them better among customers who prefer to use a single financial institution to meet all of their financial needs. Some of our competitors enjoy greater financial resources, diversification and scale than we do, and are therefore able to invest more in initiatives to attract and retain customers, such as advertising, targeted marketing, account acquisitions and pricing offerings in interest rates, annual fees, reward programs and low-priced balance transfer programs. In addition, some of our competitors have assets such as branch locations and co-brand relationships that may help them compete more effectively. Another competitive factor in the credit card business is the increasing use of debit cards as an alternative to credit cards for purchases.

Because most domestically issued credit cards, other than those issued on the American Express network, are issued on the Visa and MasterCard networks, most other card issuers benefit from the dominant market share of Visa and MasterCard. The former exclusionary rules of Visa and MasterCard limited our ability to attract merchants and credit and debit card issuers, contributing to Discover not being as widely accepted in the U.S. as Visa and MasterCard. Merchant acceptance of the Discover card has increased in the past several years, both in the number of merchants enabled for acceptance and the number of merchants actively accepting Discover. We continue to make investments in expanding Discover and Diners Club acceptance in key international markets where an acceptance gap exists.

In our payment services business, we compete with other networks for volume and to attract network partners to issue credit, debit and prepaid cards on the Discover, PULSE and Diners Club networks. We generally compete on the basis of customization of services and various pricing strategies, including incentives and rebates. We also compete on the basis of issuer fees, fees paid to networks (including switch fees), merchant acceptance, network functionality, customer perception of service quality, brand image, reputation and market share. The Diners Club and Discover networks primary competitors are Visa, MasterCard and American Express, and PULSEs network competitors include Visas Interlink, MasterCards Maestro and First Datas STAR. American Express is a particularly strong competitor to Diners Club as both cards target international business travelers. As the payments industry continues to evolve, we are also facing increasing competition from new entrants to the market, such as online networks, telecom providers and other alternative payment providers, which leverage new technologies and a customers existing deposit and credit card accounts and bank relationships to create payment or other fee-based solutions.

In our direct-to-consumer deposits business, we have acquisition and servicing capabilities similar to other direct competitors, including USAA, Ally Financial, American Express, Capital One (360), Sallie Mae and Barclays. We also compete with traditional banks and credit unions that source deposits through branch locations. We seek to differentiate our deposit product offerings on the basis of brand reputation, convenience, customer service and value.





  

Overall company Market Share Q4 2023

Overall company, revenue fell by -20.11 % and company lost market share, to approximately 2.53 %.




<<  More on DFS Market Share.
 
*Market share is calculated based on total revenue.





Who are Discover Financial Services's Competitors?




American Express Co
Share Performance



+38.63%
One Year



American Express Co
Profile

American Express Company operates as a global financial services corporation. Its business model primarily revolves around providing charge and credit card products to individuals, businesses, and merchants worldwide. Through its various payment and travel services, American Express aims to generate revenue from annual card fees, transaction fees, merchant discount fees, and other financial services.

More about American Express Co's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 169,411.025 mill. $ 102,973.000 mill. $ 8,374.000 mill.


The Western Union Company
Share Performance



+25.84%
One Year



The Western Union Company
Profile

The Western Union Company operates as a financial services and communications company. Its business model involves facilitating money transfers and providing financial solutions globally, primarily targeting underserved populations and migrants around the world. The company generates revenue through various fees charged for its services, including transaction fees and foreign exchange fees.

More about The Western Union Company's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 5,214.375 mill. $ 4,396.600 mill. $ 748.400 mill.


Visa Inc
Share Performance



+7.87%
This Quarter



Visa Inc
Profile

Visa Inc operates as a global financial services company that facilitates secure electronic transactions. The company provides payment solutions and technology infrastructure to financial institutions, merchants, and consumers worldwide. Visa's business model revolves around generating revenue from transaction fees and service charges, while ensuring the smooth flow of electronic payments through its network.

More about Visa Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 570,094.875 mill. $ 33,351.000 mill. $ 17,984.000 mill.


Mastercard Incorporated
Share Performance



+33.54%
One Year



Mastercard Incorporated
Profile

Mastercard Incorporated operates as a global payment technology company that provides transaction processing and payment solutions to financial institutions and merchants worldwide. Its business model is based on generating revenue through transaction fees charged to these institutions and merchants for the use of its payment network and services.

More about Mastercard Incorporated's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 454,329.628 mill. $ 25,098.000 mill. $ 11,195.000 mill.


Citigroup inc
Share Performance



+14.64%
30 Days



Citigroup inc
Profile

Citigroup Inc operates as a diversified financial services company, engaging in various activities such as consumer banking, corporate and investment banking, securities brokerage, and wealth management. The company earns revenue through the interest collected on loans and credit card balances, as well as fees generated from its banking and investment services. Citigroup's business model focuses on providing a wide range of financial products and services to individual customers, corporations, and governments worldwide.

More about Citigroup inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 144,153.238 mill. $ 78,462.000 mill. $ 9,381.000 mill.


Bank Of America Corporation
Share Performance



+10.81%
This Year



Bank Of America Corporation
Profile

Bank of America Corporation operates as a diversified financial services company. Its business model revolves around providing a wide range of banking and financial products and services to individual consumers, small and medium-sized businesses, and large corporations. The company generates revenue through interest income, fees, and commissions from its various banking, lending, investment, and wealth management activities.

More about Bank Of America Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 303,276.393 mill. $ 98,581.000 mill. $ 26,515.000 mill.


Slm Corp
Share Performance



+2.08%
Over The Past 5 Days



Slm Corp
Profile

SLM Corp, commonly known as Sallie Mae, is a financial institution that primarily specializes in providing student loans and related financial services.

More about Slm Corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 5,100.072 mill. $ 1,463.866 mill. $ 581.391 mill.


Euronet Worldwide Inc
Share Performance



+8.56%
This Quarter



Euronet Worldwide Inc
Profile

Euronet Worldwide Inc operates as an electronic payments provider, offering financial transaction processing solutions and services. The company's business model revolves around facilitating secure and convenient electronic payments, including money transfers, prepaid mobile top-ups, bill payments, and more. Euronet primarily generates revenue through transaction fees and commissions earned from its various electronic payment services.

More about Euronet Worldwide Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 5,549.248 mill. $ 3,688.000 mill. $ 279.500 mill.


Navient Corporation
Share Performance



+9.36%
One Year



Navient Corporation
Profile

Navient Corporation is a student loan management and servicing company. Their business model primarily involves helping borrowers manage and repay their student loans effectively. They generate revenue by providing services like loan servicing, loan originations, and asset recovery, while also offering various resources and tools to assist individuals in achieving financial success with their education loans.

More about Navient Corporation's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,064.260 mill. $ 1,297.000 mill. $ 361.000 mill.


Lesaka Technologies Inc
Share Performance



+0.21%
This Year



Lesaka Technologies Inc
Profile

Lesaka Technologies Inc is a tech company that operates on a B2B model, providing innovative software solutions for various industries. They primarily generate revenue through the sale of their proprietary software products and services, targeting enterprise-level clients. Their business model focuses on continuously evolving their software offerings to meet the diverse needs of their customers and establish long-term partnerships.

More about Lesaka Technologies Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 249.579 mill. $ 631.331 mill. $ -33.456 mill.


Everi Holdings Inc
Share Performance



-44.76%
One Year



Everi Holdings Inc
Profile

Everi Holdings Inc operates as a technology provider for the casino gaming industry, offering an integrated suite of financial technology services. The company focuses on providing solutions such as cash access services, gaming operations management, and intelligence and compliance systems. Everi's business model revolves around delivering secure and innovative solutions that enhance the efficiency and profitability of casino operations while ensuring regulatory compliance.

More about Everi Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 846.431 mill. $ 807.821 mill. $ 83.997 mill.


Green Dot Corp
Share Performance



+6.08%
30 Days



Green Dot Corp
Profile

Green Dot Corp's business model revolves around providing financial technology services and products that enable individuals, businesses, and government agencies to access and manage their money. They offer prepaid debit cards, banking, and payment solutions through various partnerships and proprietary platforms. Their aim is to make financial services accessible, affordable, and convenient for everyone.

More about Green Dot Corp's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 466.066 mill. $ 1,477.717 mill. $ 36.209 mill.


Nelnet Inc
Share Performance



+5.32%
This Year



Nelnet Inc
Profile

Nelnet Inc operates primarily in the education sector, offering a wide range of student loan servicing, administration, and asset management services. The company earns revenue through interest income on student loans, fee-based services, and income generated from its investment portfolio.

More about Nelnet Inc's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,458.789 mill. $ 1,932.098 mill. $ 54.435 mill.


Synchrony Financial
Share Performance



+46.82%
One Year



Synchrony Financial
Profile

Synchrony Financial operates as a consumer financial services company, providing various credit products and solutions to consumers and businesses. Their business model involves offering credit cards, installment loans, and other financing services through partnerships with retailers, healthcare providers, and other businesses, allowing customers to make purchases and pay in installments.

More about Synchrony Financial's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 17,593.387 mill. $ 11,323.000 mill. $ 2,196.000 mill.


Veritec Inc
Share Performance



0.00%
Over The Past 5 Days



Veritec Inc
Profile

Veritec Inc operates on a business model focused on providing technology solutions or services to clients.

More about Veritec Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 0.800 mill. $ 0.313 mill. $ -1.192 mill.


Diebold Nixdorf Incorporated
Share Performance



-2.78%
Over The Past 5 Days



Diebold Nixdorf Incorporated
Profile

Diebold Nixdorf Incorporated is a leading provider of software and hardware solutions for the financial and retail industries, offering self-service technology, security systems, and services to enhance customer experience and optimize operational efficiency. Their business model is centered around providing innovative solutions that drive financial institutions and retailers towards modernization and digital transformation to meet the evolving needs of their customers.

More about Diebold Nixdorf Incorporated's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,733.212 mill. $ 3,460.700 mill. $ -585.600 mill.


Paymentus Holdings Inc
Share Performance



-4.35%
Over The Past 5 Days



Paymentus Holdings Inc
Profile

Paymentus Holdings Inc is a financial technology company that provides cloud-based payment and billing solutions to businesses and government organizations. Their business model revolves around offering secure and convenient electronic payment services, enabling their clients to streamline their billing processes and improve customer satisfaction.

More about Paymentus Holdings Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,899.768 mill. $ 581.276 mill. $ 13.877 mill.


Aci Worldwide inc
Share Performance



+22.01%
One Year



Aci Worldwide inc
Profile

ACI Worldwide Inc is a software solutions provider that offers a comprehensive suite of electronic payment and banking solutions to financial institutions, retailers, and other organizations.

More about Aci Worldwide inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 3,476.025 mill. $ 1,452.579 mill. $ 121.509 mill.


Bottomline Technologies Inc
Share Performance



+0.72%
This Quarter



Bottomline Technologies Inc
Profile

Bottomline Technologies Inc's business model revolves around providing software solutions and payment processing services to businesses.

More about Bottomline Technologies Inc 's Market Share

Market Cap. Revenues TTM Net Income TTM
$ 2,437.918 mill. $ 506.357 mill. $ -36.360 mill.


On Track Innovations Ltd.
Share Performance



0.00%
30 Days



On Track Innovations Ltd.
Profile

On Track Innovations Ltd.'s business model revolves around developing and providing innovative solutions and technologies for secure cashless payment systems, contactless transactions, and identification technologies for a wide range of industries.

More about On Track Innovations Ltd.'s Market Share

Market Cap. Revenues TTM Net Income TTM
$ 12.374 mill. $ 14.999 mill. $ -9.458 mill.



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