Discover Financial Services, commonly known as Discover, is a financial services company based in the United States. It was founded in 1985 as a subsidiary of Sears by the name of Dean Witter Financial Services Group. In 1986, the company introduced the Discover Card, a credit card that offered cashback rewards, which quickly gained popularity.

In 1993, Discover became an independent company and was listed on the New York Stock Exchange. Headquartered in Riverwoods, Illinois, Discover operates primarily through two segments: Direct Banking and Payment Services. The Direct Banking segment offers a range of banking products and services, including credit cards, personal loans, home equity loans, and deposit products.

The Payment Services segment includes the company's network partners, Discover Network and PULSE, which provide payment transaction processing and network services. Discover has a significant presence in the global market. It has international operations in countries like India, China, and Brazil, where it provides customer service and support for its cardholders.

The company also has a strategic partnership with Bajaj Finserv in India, allowing it to expand its payment network in the country. Discover is one of the leading credit card issuers in the United States, with a strong market position. It competes with other major credit card companies like Visa, Mastercard, and American Express.

As of 2020, Discover had over 50 million cardholders, making it the third-largest credit card issuer in the United States. In terms of major events and achievements, Discover has consistently focused on innovation and customer satisfaction. It introduced contactless payment options to its cardholders and also offers a range of digital banking services, including mobile banking and online account management.

Currently, Discover continues to expand its product offerings and enhance its digital capabilities to meet the evolving needs of its customers. The company recently launched new credit card products, including the Discover it® Chrome Gas & Restaurant Card, further diversifying its portfolio. In conclusion, Discover Financial Services is a prominent financial services company known for its credit card offerings and innovative banking solutions.

With its global operations, strong market position, and commitment to customer satisfaction, Discover remains a key player in the financial industry