Discover Brand

Video Transcription

Hi, I'm Ira Bornstein, today we are going to be talking about the Discover Brand, the Discover card brand. I was at the coffee shop this morning and I pulled out my Discover card and I started thinking about how long I have been a member, because on the card itself it reminds me that I have been a member since 1989.

I Started thinking about what Discover's done over the last number of years. Discover started as a single card brand, where it was just the Discovery Card and they had a relationship with Morgan Stanley up until about 2005 and went out on their own. because they wanted to take a strategy of globalization.

What Discover card saw is that the world was becoming a lot broader. You get a lot more travelers, whether they'll be from China, Japan or Europe. So they started to built a global brand. So Discover is not just a Discover card anymore, many people well know that discover actually own Diners club, China Union Pay, JCB which was originally started with the Japanese brand. But, again even with the globalize world the Japanese brand is now expended to Hawaii and California and the US.

A lot of businesses are starting to want to accept many brands under the Discover brand. So, if you are a merchant and your using a merchant account; when somebody ask you "Do you want to take Discover card brand?" you should always be looking for that opportunity. Because as travelers come over and business people come over to your business, the last thing you want to do is have somebody look to pay with a method you don't except. If they are looking to buy your product and services, you want to make sure you accept all the brands possible.

So understand that the Discover card brand, much bigger, they are getting bigger every day, and it is not just the Discover card itself but also the underlying brands. that's the tip for the day I'm Ira Bornstein.