The Discover card is a credit card, issued primarily in the United States. It was introduced by Sears in 1985 and was part of Dean Witter and Morgan Stanley, until 2007, when Discover Financial Services became an independent company. Novus, a large processing center, used to be partners with the company as well. Novus logo has since been removed and now the logo to discover the network has replaced.
Discover Bank Discover issues most maps of the mark. Discover card transactions are processed through the Discover Network payment network. In February 2006, the company announced it would begin offering Discover Debit cards to banks, made possible by the Pulse payment system, which Discover acquired in 2005.
At the time of the Discover Card was introduced; Sears was the largest retailer in the United States. He had purchased the Dean Witter Reynolds Organization (brokerage) and Coldwell, banking & Company (real estate) in 1981 as an attempt to add financial services to its portfolio of customer services. Ray Kennedy, Sr. – father of country singer Ray Kennedy – who was the manager of Sears Credit, designed the card. With the Discover card (and its issuing bank, the Greenwood Trust Company, owned by Sears), it was named Sears Financial Network. Discover Card at the beginning was a small-embossed symbol representing the Sears Tower, headquarters of the company at the time.
Unlike other attempts to create a credit card rival MasterCard and VISA, such as Citibank Choice Card, the Discover Card quickly gained a broad base of domestic consumers. He wore no annual fee, which was rare at the time, and offered a credit limit generally higher than similar cards. Cardholders can obtain a “Cashback Bonus” in which a percentage of the amount spent would be refunded to the account (initially 2%, now as high as 5%), depending on how much the card was used. Retailers [Who?] are courted by copyright trader significantly lower  than other credit cards widely accepted. The Discover card is also notable for being the only credit card accepted by the Service U.S. Customs to pay customs duties. [Citation needed]
However, the project of creating one-stop financial services at Sears was not as successful as Sears had hoped, and his promotion of the Discover Card was designed both to harm sales Sears and limit the potential of the card. Other retailers resisted it because they believed they would help their competitors.
In light of these developments, and fierce competition from both Wal-Mart and category killers known as Toys “R” Us, Sears began to struggle in the late 1980s. Sears sold its financial activities in 1993 and began accepting MasterCard and Visa, in addition to its store credit card and Discover Card. The Discover card has become part of the Dean Witter financial services company. Dean Witter Discover merged with Morgan Stanley in 1997. In 2000, Greenwood Trust has changed its name to Discover Bank.
Discover Card had a sign on top of One Times Square below the flagpole ball falls on New Year’s Eve until the end of 2007. He presented information and new offers for the company and also displayed the countdown during the New Year celebrations
On 24 August 2006, the Discover and PULSE network in the UK LINK ATM network announced a reciprocal agreement allowing the more than 4,500 financial institution participants in the PULSE network to offer their cardholders to all but a handful more than 58,000 ATMs across the UK and allow LINK to offer its 38 participating financial institution members access to more than 265,000 ATMs in the United States PULSE.
In December 2009, an agreement was formalized with the Brazilian credit card processor Redecard to begin accepting Discover Card in Brazil.
Discover Financial Services is an American financial services company, which issues the Discover card and operates the Discover and Pulse Networks. Discover Card is the registered credit card third in the U.S. when measured by cards in force, with nearly 50 million cardholders. [via online sources]