While Discover has a much smaller debit-card network than Visa and MasterCard do, the upstart gained ground in 2012, as Discover benefited from new routing rules.
But last year, after
U.S. debit volume growth on Discovers Pulse network was 0% in 2013, while MasterCard saw a 6% increase, and Visa enjoyed a 9% jump, according to a presentation Discover showed to analysts today.
Discover executives said theyre trying a number of strategies to compete with the big guys, including allowing PIN-less transactions on purchases under $50.
They acknowledged that 2013 was a challenging year but also sought to put a positive gloss on the debit networks struggles. I view that as a lot more upside, Discover CEO David Nelms said.
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