The Collaborative International Dictionary of English v.0.48:

Discount \Dis"count`\ (?; 277), v. i.
   To lend, or make a practice of lending, money, abating the
   discount; as, the discount for sixty or ninety days.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Discount \Dis"count`\, n. [Cf. F. d['e]compte. See Discount,
   v. t.]
   1. A counting off or deduction made from a gross sum on any
      account whatever; an allowance upon an account, debt,
      demand, price asked, and the like; something taken or
      deducted.
      [1913 Webster]

   2. A deduction made for interest, in advancing money upon, or
      purchasing, a bill or note not due; payment in advance of
      interest upon money.
      [1913 Webster]

   3. The rate of interest charged in discounting.
      [1913 Webster]

   At a discount, below par, or below the nominal value;
      hence, colloquially, out of favor; poorly esteemed;
      depreciated.

   Bank discount, a sum equal to the interest at a given rate
      on the principal (face) of a bill or note from the time of
      discounting until it become due.

   Discount broker, one who makes a business of discounting
      commercial paper; a bill broker.

   Discount day, a particular day of the week when a bank
      discounts bills.

   True discount, the interest which, added to a principal,
      will equal the face of a note when it becomes due. The
      principal yielding this interest is the present value of
      the note.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Discount \Dis"count`\ (?; 277), v. t. [imp. & p. p.
   Discounted; p. pr. & vb. n. Discounting.] [OF. desconter,
   descompter, to deduct, F. d['e]compter to discount; pref.
   des- (L. dis-) + conter, compter. See Count, v.]
   1. To deduct from an account, debt, charge, and the like; to
      make an abatement of; as, merchants sometimes discount
      five or six per cent for prompt payment of bills.
      [1913 Webster]

   2. To lend money upon, deducting the discount or allowance
      for interest; as, the banks discount notes and bills of
      exchange.
      [1913 Webster]

            Discount only unexceptionable paper.  --Walsh.
      [1913 Webster]

   3. To take into consideration beforehand; to anticipate and
      form conclusions concerning (an event).
      [1913 Webster]

   4. To leave out of account; to take no notice of. [R.]
      [1913 Webster]

            Of the three opinions (I discount Brown's). --Sir W.
                                                  Hamilton.
      [1913 Webster]

WordNet (r) 3.0 (2006):

discount
    n 1: the act of reducing the selling price of merchandise [syn:
         discount, price reduction, deduction]
    2: interest on an annual basis deducted in advance on a loan
       [syn: discount rate, discount, bank discount]
    3: a refund of some fraction of the amount paid [syn: rebate,
       discount]
    4: an amount or percentage deducted [syn: deduction,
       discount]
    v 1: bar from attention or consideration; "She dismissed his
         advances" [syn: dismiss, disregard, brush aside,
         brush off, discount, push aside, ignore]
    2: give a reduction in price on; "I never discount these books-
       they sell like hot cakes"