Credit card industry analysts have watched Discover evolve from a "closed loop" credit card issuer, controlling all of its own accounts, into more of a payment plaform provider over the past few years. Diversifying into offering certificates of deposit and student loans has helped DFS weather the recession, but analysts still want to see the company grow beyond its current 6% market share of domestic credit card accounts. At the Salt Lake event, Nelms reminded employees that Discover would continue to try new ideas to grow its business, despite a lagging economy.
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Joe Taylor Jr. is an internal business consultant for a Fortune 500 company, who writes about finance, culture, and design. He holds a Bachelor of Science in Communications from Ithaca College.