Credit Card Glossary: Terms and Definitions
Discover, the newest of the payment card brands, formed in 1986. Company now has more than 50 million card members, but is the smallest of the four payment brands in terms of market share. Discover Card’s payment networks — Discover Network and PULSE — together processed more than 3 billion transactions in 2006. Like American Express, but unlike Visa and MasterCard, Discover acts both as a card-issuing bank and as a transaction processing network.