It's pretty clear from this paragraph that Capital One's intent is to drive transaction volume through the Discover network. It will be interesting to see how they approach this. It could be done by moving existing card accounts from MasterCard or VISA, or through the introduction of new Discover card products.
I suspect that it's also a hedge in anticipation of legislation requiring every issuer to use a second payment network in addition to Visa/Mastercard.
Last edited by anrkitec; Feb 20, 2024 at 7:50 pm