Discover Financial Services is a direct banking and payment services company. It operates through its subsidiaries, Discover Bank and Discover Home Loans, Inc. The company operates through two segments: Direct Banking and Payment Services. The Direct Banking segment includes consumer banking and lending products, specifically Discover-branded credit cards issued to individuals and small businesses on the Discover Network and other consumer banking products and services, including private student loans, personal loans, home loans, prepaid cards and other consumer lending and deposit products. The Payment Services segment includes PULSE, Diners Club and the company's network partners business, which includes credit, debit and prepaid cards issued on the Discover Network by third parties. This segment also includes the business operations of Diners Club Italy, which primarily consist of issuing Diners Club charge cards. Discover Financial Services was founded in 1986 and is headquartered in Riverwoods, IL.