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This statistic highlights Discover Financial Services’ Net Transactional Volume, split across Total Payment Services, PULSE Network, Discover Network–Proprietary, Network Partners and Diners Club International, reported on a quarterly basis.
|Network Transactional Volume||Q3 2020||Q2 2021||Q3 2021||Contribution in Q3 2021|
|Total Payment Services||69.75||78.45||76.80||38%|
|Discover Network – Proprietary||38.70||47.20||49.36||24%|
|Diners Club International||5.84||6.13||6.55||3%|
(All the values are in billions, apart from percentages)
Total net transaction volume increased from 178.20 billion in Q3 2020 to 202.95 billion in Q3 2021, indicating a growth of 13.9%, on a year-on-year basis. Besides, it declined marginally by 0.5%, as compared to 204.10 billion in Q2 221, on a quarterly basis.
The following details present information on Discover Financial Services’ Net Transaction Volume:
Total Payment Services
The total number of transactions processed from Total Payment Services increased from 69.75 billion in Q3 2020 to 76.80 billion in Q3 2021. This was an incline of 10.1% on a yearly basis. However, it showed a slight downfall of 2.1% on a quarterly basis, compared to 78.45 billion in Q2 2021. Total payment services account for 38% of network transactional volume for Q3 2021. The majority of Payment Services transaction volume are obtained from transactions processing revenue from PULSE and royalty and license revenue from Diners Club.
PULSE network is one of the nation’s primary debit/ATM networks. PULSE operates an electronic funds transfer network, providing financial institutions supplying debit cards on the PULSE network with access to ATMs indigenously and internationally, and merchant acceptance throughout the United States for debit card transactions.
The net transactional volume of PULSE Network marked a rise from 54.99 billion in Q3 2020 to 59.87 billion in Q3 2021, which was an 8.8% incline on a year-on-year basis. Besides, it decreased 2.99 billion, or by 4.7% on a quarterly basis, as compared to 62.86 billion in Q2 2021. The contribution of PULSE Network in the network transactional volume for the period Q3 2021 stood at 30%.
The Discover Network operates transactions for Discover-branded credit and debit cards and provides payment transaction processing and settlement services.
Total transactions originating from the Discover Network were 49.36 billion in Q3 2021, indicating a growth of 27.5% as compared to 38.70 billion in Q3 2020, on a year-on-year basis. Additionally, it grew by 4.5%, as compared to 47.20 billion in Q2 2021, on a quarter-on-quarter basis. Discover Network accounts for 24% of network transactional volume for the period Q3 2021.
Network Partners business comprises of Network Alliances, technology-enabled partners and commercial payments network. The company has contracts with a numerous financial institutions including financial technology firms, networks or Network Alliances and commercial service providers for issuance of services or processing of payments on the Discover Global Network. These financial institutions, networks and commercial service providers are referred as Network Partners.
The transactional volume of Network Partners increased from 8.92 billion in Q3 2020 to 10.38 billion in Q3 2021. This was a growth of 16.3% on a yearly basis. Also, it grew 0.91 billion, or by 9.6%, as compared to 9.47 billion in Q2 2021, on a quarterly basis. Network Partners comprises 5% of the company’s network transactional volume in Q3 2021.
Diners Club International
Diners Club is a global payments network of licensees, which are usually financial institutions, that provides Diners Club-branded credit and charge cards and provides card acceptance services. The main source of Diners Club revenues are the royalties paid by the licensee to the company, for the right to make use of the Diners Club brand.
The total transactional volume of Diners Club International grew from 5.84 billion in Q3 2020 to 6.55 billion in Q3 2021, witnessing a growth of 12.1% on a yearly basis. It also inclined by only 6.8% quarterly, as compared to 6.13 billion in Q2 2021. It contributes only 3% to the network transactional volume in Q3 2021.
Discover Financial Services was incorporated in Delaware in 1960. It is a digital banking and payment services company, providing payment systems, credit cards, finance, consumer banking, and loans, through its subsidiaries. It offers their customers credit card loans, private student loans, personal loans, home loans, and deposit products. The company had $90.4 billion in loan receivables and $63.5 billion in deposits furnished through direct-to-consumer medium and affinity relationships as on December 31, 2020. It also operates the Discover Network, the PULSE network, and Diners Club International, collectively known as the Discover Global Network. The company’s stock is publicly traded on the NYSE under the symbol “DFS”.
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