Capital One to buy Discover for $35 billion in deal that combines major US credit card companies - ABC News
Capital One to buy Discover for $35 billion in deal that combines major US credit card companies - ABC News
Capital One Financial is buying Discover Financial Services for $35 billion, in a deal that would bring together two of the nation’s biggest lenders and credit card issuers
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Small player takes over small player. Big deal.
Now, if Chase bank bought Mastercard, that would be some bullshit.
Mastercard merely processes transactions no? Like world pay.
Don't they feed off every single transaction? I'd imagine they're huge.
They take processing fees.
You don’t need to imagine their size, you can Google them. They have a market cap of $400B+.
You should note that it’s the retailers paying the transaction fees and not the customers.
Well my point was that it would be a large merger
But not a monopoly as they’re different services, albeit in the same industry.