[HN Gopher] Capital One Is Buying Discover Financial
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       Capital One Is Buying Discover Financial
        
       Author : archb
       Score  : 28 points
       Date   : 2024-02-19 18:35 UTC (4 hours ago)
        
 (HTM) web link (www.wsj.com)
 (TXT) w3m dump (www.wsj.com)
        
       | martinky24 wrote:
       | Is Buying*
       | 
       | * Pending the feds allowing this to go through
       | 
       | There has been enough antitrust scrutiny in recent years where I
       | am very interested to see how far this goes. There's a very real
       | chance the sale won't complete and 6 months from now nothing will
       | have changed.
        
         | solardev wrote:
         | Can't they just stall until the election? If a Republican wins
         | again, that's probably the end of antitrust enforcement until
         | the next cycle.
        
         | Banditoz wrote:
         | If they didn't block the Actiblizz purchase I don't see why
         | they'd block this one.
        
       | alberth wrote:
       | This is significant.
       | 
       | It's one of the largest US Open-Loop Issuers, buying their own
       | network (Closed Loop).
       | 
       | Cap1 will now be able to cut out Visa/Mastercard.
       | 
       | Cap1 will now be like Amex.
        
       | dlachausse wrote:
       | Capital One is also rumored to be one of the top contenders to
       | replace Goldman Sachs as the bank behind the Apple Card. I wonder
       | if this is related to that.
        
         | gumby wrote:
         | I doubt Apple Card would change to being Discover rather than
         | Mastercard since Discover is accepted by, what, two retailers?
         | 
         | I would prefer if Apple switched to Visa since my other visa
         | cards gradually got converted to the less useful Mastercard
         | (supported in the USA, but fewer other places).
        
           | cbhl wrote:
           | While switching to Discover would make Apple Card less useful
           | as a travel credit card and budgeting tool, it would still be
           | useful as a "store credit card" (monthly installments for
           | buying a new iPhone).
           | 
           | And it wouldn't be the first time Apple has integrated with
           | Discover -- for example Apple Cash in Wallet used to use
           | Discover prior to 2022 or so.
        
       | Projectiboga wrote:
       | For research and education users. https://archive.is/tW0Ih
        
       | toomuchtodo wrote:
       | Non paywall alternative: https://www.cnbc.com/2024/02/19/capital-
       | one-acquiring-discov...
        
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       (page generated 2024-02-19 23:02 UTC)