Discover's payments network has a market share of only about 4%, but Capital One says that, if regulators allow its $35 billion purchase of Discover to go through, the merged company would have the scale and muscle to ratchet up competition in digital payments, a field Visa has long dominated. Photo: John Disney/ALM Inside Track: How 2 Big Financial Stories—an Antitrust Case and a Megamerger—Became Intertwined
At issue is whether Discover's underperforming digital payments network would have the muscle to challenge Visa's dominance of the payments industry if regulators OK its merger with Capital One.
November 08, 2024 at 10:25 AM
6 minute read
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The Department of Justice's decision to file an antitrust lawsuit against Visa may be just what Capital One's controversial deal to buy Discover for $35 billion needs to nudge it across the finish line.
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