Morgan Stanley and Discover to Split

Morgan Stanley is confirming that it will spin off its credit card business. This has been expected for some time now, as the NY Times article points out. The main reason given for the spin off is that Discover does not fit with Morgan Stanley's business model in investment banking and that the credit card is losing ground to its bigger rivals such as Visa, MasterCard and Amex. I happen to have a Discover card, which I used sporadically while in the States. However, I cannot make use of it here in Sofia. Most Sofia stores accept Visa and MasterCard with few also taking Amex. Most, however, have not even heard of Discover. This makes me think that even if the US market is quite saturated and growth is slow, Discover can tap into the international market, where growth potential (especially in Eastern Europe) is strong. International consumers will welcome such a move. I for sure will.