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Meanwhile, Capital One customers will also have access to Discover’s payment network. In the United States, switching to a new Capital One card on Discover’s network from Mastercard or Visa ...
Discover is the third largest credit card brand in the U.S., with 60.6 million cardholders or about 8% of cards in circulation, placing it well behind Visa (48%) and Mastercard (36%), but slightly ahead of American Express (7.5%).
Discover Financial Services. Discover Financial Services is an American financial services company that owns and operates Discover Bank, an online bank that offers checking and savings accounts, personal loans, home equity loans, student loans and credit cards.
Since 2019, the Diners Club cards in Turkey are being issued co-branded with TROY within a card reciprocal agreement, thus the acceptance of Diners Club and Discovery cards throughout Turkey has been increased to full coverage. This agreement also provides TROY cards to be accepted on Discover/Diners Club network worldwide.
“The deal also poses massive antitrust concerns, given the vertical integration of Capital One’s credit card lending with Discover’s credit card network.”
Americans have become increasingly reliant on their credit cards since the pandemic. Capital One Financial announced Monday that it would buy Discover Financial Services for $35 billion.
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