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>> You're in a very competitive marketplace competitors like Visa and MasterCard. How do you foster a culture of innovation where you're able to keep up or get ahead of those competitors?
>> Well, you know, if you know anything about Discover there's a scrappiness about Discover that is part of its heritage. When, you know, the industry said that you couldn't create another payment network Discover, you know, 21 years later is a very viable and vibrant company. You know, we went public this -- we were spun off from Morgan Stanley this summer so this is its first chance of actually being a stand-alone company. It's always been a part of another company be it way back in the early days Sears, part of Jean Witter, part of Morgan Stanley. So there is a resiliency and a culture of innovation at Discover that's really part of the heritage of the company.
>> Well, what are some examples of innovations that you can count on that have gotten you ahead of your competitors?
>> Well, our network and having, you know, a card issuing business with its own network. You know, there's really only one other competitor out there that has that and that's American Express. So having the flexibility of, you know, being able to deliver our products through our own network. You know, we do offer that network to select partners that really does allow us to do a lot of very unique things partnerships directly with merchants, programs that we can offer because we run our own network. And we've also enhanced that, you know, beyond, this is where I think we're quite unique compared to any other competitor out there. Not only do we have a credit network we have a debit network as well, so all pin debit transactions, you know, there's no kind of payment form factor that we can't deliver across one of our networks.
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==== Transcribed by Automatic Sync Technologies ====
