Discover Financial Services - DFS STOCK NEWS

Discover Financial Services will hold its 2021 Annual Meeting of Shareholders on May 5, 2021, at 9:00 a.m. Central time. Due to the COVID-19 pandemic, the meeting will be conducted online. Shareholders of record as of March 8, 2021, can participate and vote. The meeting can be accessed via this link, with the password DFS2021. A replay will be available post-meeting. Discover, a major player in U.S. financial services, offers a range of banking products including consumer loans and operates the Discover Global Network.

Discover and Network International Jordan have formed a strategic alliance to enhance merchant acceptance for Discover cardholders in Jordan. This agreement will enable almost 2,000 ATMs and over 18,000 merchants to accept Discover and Diners Club International cards, significantly improving payment options for travelers. With a broad network across the Middle East, this partnership aims to boost customer experiences and connectivity, benefiting both local merchants and international cardholders.

Discover has partnered with Payments Network Malaysia Sdn Bhd (PayNet) to enhance card acceptance for Discover and Diners Club International cardholders in Malaysia. This collaboration aims to increase acceptance at 10,000 ATMs and over 570,000 POS terminals in the country, aligning with Discover's strategy to expand its presence in the Asia Pacific region, which saw a 14% growth in acceptance in 2020. The partnership aims to facilitate seamless payment interactions for travelers and boost sales opportunities for Malaysian businesses.

Discover Financial Services has appointed David L. Rawlinson II, CEO of NielsenIQ, to its Board of Directors. Rawlinson brings extensive experience in global e-commerce and consumer trends and has previously served in senior advisory roles for Presidents George W. Bush and Barack Obama. His background will support Discover's goal of enhancing its digital banking success. Rawlinson also held high-level positions at W.W. Grainger and MonotaRO Co., Ltd. He joined the Board and was appointed to the Audit Committee on February 22.

Discover Financial Services conducted a survey revealing that 58% of homeowners plan renovations in the next year, up from 53% earlier. Major motivations include enhancing comfort (83%) and health/safety (62%). Younger homeowners are more proactive, with 72% of Gen Z and millennials planning projects. However, 49% reported delays due to COVID-19's financial impact. Additionally, 50% prefer online mortgage financing, up from 43%, indicating a shift towards digital processes. Discover expects this trend to continue post-pandemic.

Discover and Sezzle have formed a strategic partnership to enhance payment options for consumers through the Discover Global Network. Sezzle will enable selected merchants to offer interest-free installment plans, requiring minimal adjustments to existing payment systems. This collaboration aims to accelerate Sezzle's business development by leveraging Discover's extensive merchant relationships. Discover Global Network boasts over 48 million acceptance locations globally, facilitating growth for Sezzle by providing new payment opportunities.

John Greene, CFO of Discover, is scheduled to present at the Wolfe FinTech Forum on March 9, 2021, at 10:40 a.m. ET. A live webcast will be available on Discover's Investor Relations website, with a replay accessible for 90 days post-conference. Discover Financial Services (NYSE: DFS) is a leading digital banking and payment services company, recognized for its Discover card and various financial products, including loans and accounts. With its inception in 1986, Discover has grown to be a significant player in U.S. financial services.