Walmart can end Capital One end card tie early, judge says
Payments Dive
MARCH 27, 2024
It won’t be easy for Walmart to find a new partner to replace Capital One, though, said Brian Riley, co-head of payments at Javelin Strategy & Research.
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Payments Dive
MARCH 7, 2024
With its acquisition of the card network, Capital One seeks to elevate Discover’s brand while also working to expand its acceptance abroad.
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Payments Dive
MARCH 26, 2024
Dominated by Visa and Mastercard, card network markets “sorely need an injection of competitive rivalry,” Capital One argued in its application to regulators to purchase Discover.
Payments Dive
FEBRUARY 20, 2024
The transaction would give a big boost to a bank well-known for its credit card component, yet lend regulatory gravitas and investment dollars to a struggling card network.
Payments Dive
DECEMBER 1, 2023
Synchrony, American Express and Capital One have all been floated by analysts as potential successors to Goldman Sachs for Apple’s credit card.
Payments Dive
FEBRUARY 21, 2024
While the $35 billion acquisition is expected to prompt antitrust concerns related to consumer card lending, regulators may see competition benefits in the card network arena.
The Paypers
MAY 9, 2024
Nigeria-based fintech and non-bank credit card issuer O3 Capital has partnered with American Express to issue four new Amex credit cards in Nigeria.
PYMNTS
DECEMBER 7, 2020
Capital One Financial Corp (CapOne) is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “risky,” Reuters reported on Monday (Dec. Customers who use their debit cards or checking accounts can still make BNPL payments, the CapOne spokeswoman said.
PYMNTS
OCTOBER 23, 2020
Capital One reported on Thursday (Oct. 22) that domestic card average loans fell in Q3, as consumers spent less and saved more amid the pandemic. “In Capital One said its domestic cards’ average loans fell 6 percent compared to Q3 2019 to $97.3 Overall, Capital One reported $5.05 Capital One Financial Corp.
Bank Innovation
JULY 1, 2019
Capital One is contemplating how it can use data management technology, the cloud, APIs and artificial intelligence to meet the needs of middle-market businesses that increasingly are turning away from paper checks toward digital payments.
PYMNTS
JANUARY 21, 2020
Amid the spate of financial institutions reporting results that show increased traction in consumer spending — especially across credit cards — add Capital One Financial to the list. In results posted Tuesday (Jan. In terms of headline numbers, adjusted earnings were $2.49 a share, better than the $2.37
PYMNTS
JULY 9, 2019
small business lender and commercial card company Capital on Tap is collaborating with accounting software company Receipt Bank to launch the Receipt Bank Card, a commercial card solution for small businesses, according to a press release Monday (July 8).
PYMNTS
JANUARY 23, 2019
Capital One ’s domestic card loans increased 8 percent in the fourth quarter of 2018 , the bank said on Tuesday (Jan. 22) as company executives gave an update of its card deal with Walmart. The financial institution (FI) said that, as of the end of Q4, the domestic card loans ending balance stood at $107.4
American Banker
FEBRUARY 19, 2024
Capital One Financial's proposed acquisition of Discover Financial Services would create a credit card behemoth with its own payments network. The deal is likely to draw tough regulatory scrutiny, though analysts say there are many compelling strategic reasons for the combination.
PYMNTS
AUGUST 1, 2019
Corporate credit card data was not exposed in the massive Capital One data breach that came to light earlier this week, according to Business Travel News reports. While customers of Capital One’s commercial banking division were not affected, reports noted that small business customers were affected by the breach.
Payments Dive
JUNE 8, 2023
Acquiring the travel, entertainment and shopping concierge service may advance the bank’s interest in having customers use credit card points.
Payments Dive
FEBRUARY 21, 2024
While both Mastercard and Visa will be impacted by Discover Financial Services’ plan to be acquired by card issuer Capital One, the former is likely to bear the brunt of the blow.
PYMNTS
SEPTEMBER 18, 2019
Walmart has announced it is teaming up with Capital One on a new credit card to be released on Sept. There will be two versions available: the Capital One Walmart Mastercard and the private-label Walmart Rewards Card. The card also gives back 2 percent on restaurant and travel purchases. 24, according to a release.
Bank Innovation
JANUARY 23, 2019
Capital One Financial has reportedly acquired Walmart's card receivables, the bank's chairman and CEO, Richard Fairbank, said yesterday. Terms of the transaction were not disclosed.
PYMNTS
JULY 21, 2020
Capital One reported on Tuesday (July 21) that its credit card business shrank during the second quarter, but that delinquencies fell despite the pandemic. In our credit card business, loan balances, purchase volume and revenue declined year over year. Overall, Capital One reported $1.61 That’s worse than a $1.25
PYMNTS
JANUARY 14, 2021
Silicon Valley credit card startup X1 raised $12 million in a funding round led by Spark Capital, a backer of Twitter, Plaid, Slack and Affirm. 14) press release that the company has received a positive response to the credit card’s debut, with almost 300,000 users signing up for the waiting list.
PYMNTS
OCTOBER 19, 2020
American Express is working with Coupa on a new partnership to use virtual cards for Coupa's B2B solution, a press release says. Coupa Pay, the Coupa B2B solution, will be available for customers of AmEx's virtual cards, in a move meant to streamline the old payment processes which the release calls "outdated, complex, and inefficient.".
PYMNTS
FEBRUARY 28, 2020
Capital One is going to increase its focus on digitization and close 37 branches around the U.S., Our customers are increasingly engaging with us digitally,” said Capital One spokesman Derek Conrad. according to a report by Yahoo Finance. Net income CAGR was 8.2 percent throughout the same time period.
BankInovation
FEBRUARY 19, 2024
Capital One Financial Corp. agreed to buy credit-card lender Discover Financial Services in a $35 billion all-stock deal to create the largest US credit card company by loan volume. McLean, Virginia-based Capital One will pay 1.0192 of its own shares for each Discover share, a 26.6% premium to the closing price on Feb.
TheGuardian
FEBRUARY 20, 2024
Senator says $35bn deal merging two of the largest US credit card firms would ‘threaten financial stability’ and reduce competition Senator Elizabeth Warren has urged regulators to block Capital One’s $35bn takeover of Discover Financial, arguing that combining two of the US’s largest credit card companies would harm consumers and challenge financial (..)
PYMNTS
JULY 2, 2020
Corporates of all sizes and verticals are taking an introspective look at internal operations to pinpoint areas of opportunity for working capital optimization. “On the buyer side, utilizing cards and shifting away from checks, wire and ACH provides a new credit instrument.” Optimizing Card Spend.
PYMNTS
JULY 20, 2018
Capital One reported a robust second-quarter performance as the bank had increased spending and lowered losses in its credit card business. Capital One delivered another quarter of strong financial performance as we continued to invest to grow and drive our digital transformation,” Fairbank said in a statement. “We
PYMNTS
OCTOBER 17, 2017
17) Capital One announced news of its Savor Card , a cash back credit card that gives foodies cash back rewards on dining, groceries and general retail purchases. We created the Savor Card to give customers a simple way to earn more when they are doing what we know they love. Card at Capital One.
Bank Innovation
JULY 27, 2017
bank Capital One to its roster. Ryan Himmel, financial partnerships lead for Xero told Bank Innovation this partnership is a big win for the company “not only on the account that Capital One is a huge bank, but also because we were able to deliver the finished product so quickly.” […].
American Banker
APRIL 8, 2024
Any approval of the proposed Capital One-Discover merger must come with a pro-competitive 1% interchange fee condition to benefit consumers and small businesses and challenge the dominating duopolist Visa, and a pro-community 5% deposit reinvestment condition.
American Banker
MARCH 26, 2024
The credit card giant says that it is "proactively meeting" with advocacy organizations to gather feedback that would help with the creation of a community benefits plan. The National Community Reinvestment Coalition, which has negotiated 21 such deals since 2016, opposes Capital One's proposed acquisition of Discover.
Bank Innovation
DECEMBER 12, 2019
On the heels of a $200 million debt capital raise confirmed this week, corporate card and financial product startup Brex plans to ramp up its product offerings for e-commerce entrepreneurs. The company currently offers credit cards for e-commerce companies, a product that was first launched in February.
PYMNTS
DECEMBER 24, 2020
At the dawn of 2020, commercial cards made up only a fraction of overall B2B payments volume, even as corporates continued their slow-but-sure payments digitization efforts away from the paper check. But in the midst of the coronavirus crisis, the corporate card seemed to unlock more value for businesses large and small.
PYMNTS
SEPTEMBER 7, 2020
In B2B payments, the commercial card has experienced a dramatic spike in adoption this year as organizations accelerated their digital transformations and, unable to physically enter the office, began to rely on electronic payments to conduct their business. Winter Blues. Spring’s SMB Support. Spring began in dramatic fashion.
PYMNTS
JANUARY 6, 2021
With businesses large and small increasingly turning their attention toward recovery efforts, the commercial credit card market is exploring ways to help their corporate card holders. Commercial Card, Global Commercial Services, Courtney Kelso in a statement. Neat Debuts Its Visa Card For Small Businesses.
PYMNTS
APRIL 26, 2019
Capital One Financial posted results that were higher than Street estimates as its core card business grew, as did commercial lending activity. In reference to credit card operations, the company said that as average loans were up $2 billion, purchase volume was up eight percent, and the revenue margin of 16.3 percent.
PYMNTS
JANUARY 11, 2021
Capital One has signed on to join Fiserv ’s surcharge-free MoneyPass ATM network. Under the deal , MoneyPass will be made available at over 1,500 Capital One ATMs at Capital One branches, Capital One Cafés and other select locations.
American Banker
FEBRUARY 21, 2024
Some analysts said that the Capital One-Discover deal would undercut the reasoning behind the Credit Card Competition Act — authored by Sen. Dick Dubrin, D-Ill. which aims to spur competition for Visa and Mastercard.
PYMNTS
JULY 2, 2020
With the pandemic nudging businesses further into the digital payments realm, commercial card innovation is heating up to capitalize on the opportunity for adoption. Boost Bolsters BMO Harris Bank’s Biz Cards. Global Cash Card’s Legal Saga Ends. ADP Eyes Payroll Card Adoption Jump.
TheGuardian
MARCH 6, 2024
Coalition of advocacy groups warn that deal would ‘further concentrate risk’ in the financial system and ‘must be stopped’ Regulators have been urged to block Capital One’s $35bn takeover of Discover by campaigners who say the blockbuster deal is “dangerous, illegal, and must be stopped”.
BankInovation
APRIL 29, 2022
Capital One's focus on digital tools and dealer relationships contributed to increased auto originations in the first quarter as the lender looks to keep pace with industry competition. Auto originations increased 20% sequentially and 33% year over year to $11.7
PYMNTS
SEPTEMBER 6, 2019
Today in the payments news roundup, Stripe launched Stripe Capital to simplify the way internet companies can access funds. Also, commercial and consumer cards issued in the U.S. US Payment Card Market Tops $6T. Consumer and commercial cards issued in the U.S. Consumer and commercial cards issued in the U.S.
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