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Which Credit Card Stock is a Better Choice? By StockNews

by Mike Robinson

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© Reuters. Mastercard vs. Mastercard vs.

Increased discretionary consumer spending is driving credit card transactions to the forefront. Credit card companies Mastercard (MA), and Discover Financial (DFS), should all benefit. Which stock is better to buy right now? You can read more about Discover Financial Services’ digital banking and payments services business. Digital Banking offers Discover-branded credit card cards. The Payment Services segment runs the PULSE Network. Mastercard Incorporated (NYSE 🙂 offers transaction processing as well as other related products and services. This company facilitates payment transaction processing, which includes authorization, clearing and settlement.

As people live more remote lives, the use of online payments and credit cards has skyrocketed in the last year. The gradual economic recovery and rapid vaccinations have aided a significant increase in spending on discretionary goods and services. The Commerce Department reported that August’s overall consumer spending increased 0.8%. Growth of the credit card industry should be driven by technological innovation, rapid adoption and growing demand for digital prepaid cards services. Research and Markets predicts that the credit card market will grow by 3% and reach $103.06 billion by 2021.

DFS has seen a 2.4% increase in monthly returns over MA’s 1.2%. Also, DFS’ 40.6% gains over the past nine months are significantly higher than MA’s negative returns. Moreover, DFS is the clear winner with 106.8% gains versus MA’s 1.6% returns in terms of the past year’s performance.

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