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Most cards with the Discover brand are issued by Discover Bank, formerly the Greenwood Trust Company. Discover transactions are processed through the Discover Network payment network . In 2005, Discover Financial Services acquired Pulse , an electronic funds transfer network, allowing it to market and issue debit and ATM cards.
In 2008, Green Dot ceased to offer prepaid Discover cards. [7] On July 30, 2019, Green Dot launched the Unlimited Cash Back Bank Account, offering 3% cash back as well as a savings account offering 3% interest [8] known as the Unlimited cashback account. The cards are normal debit cards, and not a line of credit.
In-network ATM fee (10%): Some prepaid cards allow users to make withdrawals for free at ATMs that are within the selected network. However, others charge per ATM withdrawal, regardless of the ATM ...
Currently, Capital One relies on the Visa and MasterCard networks for payment processing, but it plans to move all of its debit cards and some of its credit cards to Discover’s network starting ...
Rivals of the network include First Data's STAR and Fidelity National Information Services's NYCE. It is owned by Discover Financial, issuer of the Discover Card, and is included in Discover's agreement with China UnionPay; cards can be used on each other's network leading to better acceptance outside large cities than the larger networks.
On November 21, 2014, Oink announced the launch of their prepaid card on the Discover Network - allowing parents to control their children's in-store spending as well. [12] The notability of this technology was recognized by Frost & Sullivan, who gave Virtual Piggy their 2012 Entrepreneurial Company of the Year award in Digital Media. [13]
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