May 21, 2024

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The end of Mastercard and Visa: what will happen to the cards?

The end of Mastercard and Visa: what will happen to the cards?

The huge deal reached directly threatens Mastercard and Visa credit and debit cards. What will happen from now on in the economy? Read on xristika.gr.

The $35 billion Capital One and Discover deal — the largest merger announced globally this year — unites the two historic brands and creates the largest U.S. credit card issuer by loan volume.

This private deal outperforms giant companies American Express, Citigroup and JP Morgan Chase.

Of course, Democrats in the US Senate do not support the takeover.

A direct merger, which would make already strong financial companies bigger and stronger, does not help the average household“said Sherrod Brown, Chairman of the relevant committee at the authority.

Analysts point out that the strength of market leaders in payments makes the issue more complex than the size of the new company, as creating a viable competitor can be seen as an advantage for the trading world.. If regulators block the deal, “they will be accused of protecting Visa and MasterCard.” noted Ian Katz, CEO of Capital Alpha Partners.

However, as reports confirm, even after the big deal, Discover will still lag far behind Visa and Mastercard.

But control of the Discover network can help the bank establish closer relationships with consumers and merchants and potentially generate more revenue. Thus eliminating the middleman will add value to the single company network.

Capital One is the third-largest issuer of Mastercard and Visa cards in the United States, accounting for about 10% of credit card spending, according to Mizuho Securities USA.

While Fairbank said it doesn't plan to completely abandon these card networks, it predicted that more than 25 million Capital One cardholders, representing $175 billion in annual spending, could move to the Discover network in the coming years.

The deal would give the single company more than $250 billion in credit card loan volume — debt customers hold their cards — as of December 31, making it the No. 1 player. However, in terms of purchase volume, they will still lag behind the industry leaders.

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Enjoy a 'new' credit card for everyone: How it works

A huge deal between two major players in the market has been “closed” in recent days, with the two companies creating a new credit card that will shake up the market and the economy.

Specifically, the American lender Capital One Buy a competitive one Discover Finance For $35.3 billion. This deal brings together two of America's largest credit card companies.

Capital One's acquisition of Discover results in shares of its smaller rival valuing 27% higher than Friday's close. Under the terms of the deal, Discover shareholders will receive 1.0192 Capital One shares each.

“With this combination, we are creating a company that is extremely well positioned to create significant value for consumers, small businesses, merchants and shareholders as technology continues to transform the payments and banking market,” said Richard Fairbank, founder and CEO of Capital One. .

This deal will cause tremors In the US credit card scene It will mark one of the largest deals in the industry since the 2008 financial crisis.

Capital One and Discover are the largest credit card lenders, behind JPMorgan Chase and Citigroup. Discover also offers a payment network, making it a competitor to Visa and Mastercard.

The deal is expected to generate $1.5 billion in spending synergies in 2027 and provide a 16% return on invested capital in 2027, Capital One and Discover said Monday.

The companies said they expect to close the deal in late 2024 or early 2025.

bomb! Netflix announced for free for Greeks

Today's incredible announcement also concerns the Greeks. They will now be able to watch Netflix for free after the amazing deal. All news on xristika.gr.

So the collaboration that will make a lot of noise and save some money from the budget is between Netflix and Deutsche Telekom! As announced by the company, Netflix will start streaming from Croatia and HungaryWhile it will gradually spread to the rest of the European countries of the DT group.

It should be noted that DT Group also owns OTE and therefore informed sources report that in the coming months Netflix will also be coming to Greece and will be streamed via Cosmote TV. This means, aside from the shocking possibility, anyone with a Cosmot TV will also watch Netflix for free.

The partnership builds on Deutsche Telekom's commitment to steadily improve the overall digital home experience by giving its customers access to Netflix's range of entertainment options within its offerings, with the aim of expanding each party's base of recipients and customers.

“Starting with Hrvatski Telekom in Croatia and Magyar Telekom in Hungary, Deutsche Telekom subsidiaries in several European countries will offer new ways to integrate Netflix – including bundling or tuning functions on their TV interface – giving customers more Choices on how to enjoy their favorite content.

In other words, we are waiting for the official OTE announcement for Netflix and Cosmote TV customers.

A hidden gift from a Greek supermarket for all customers: this is how you will get it

My Market innovates and introduces new services and delivery fees. In fact, someone is hiding a gift on your birthday.

Greek supermarkets My Market has made a surprise announcement, as supermarkets change their fees for online orders.

According to the advertisement, they offer the smart shopping service “Saver Pass” for online shopping. The Saver Pass service is already available on mymarket.gr, offering unlimited deliveries, without additional shipping costs, in one payment.

It will be for both regular and occasional customers, as it has offers tailored to the needs of each household.

All customers have to do is sign up for one of the plans Stop lane. Then, they will be able to order their purchases, even daily, without calculating shipping costs and without worrying about additional transportation costs.

Let's take a look at the two new programs

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1. Stop the passage of light: Valid for delivery from Tuesday to Thursday for the period 11:30-17:30. This special package provides an affordable solution for families who maintain a good schedule in their daily lives and are at home during lunch hours.

2. Flexible stop card: In this package there are no restrictions on the days and hours of delivery of orders. The package responds to modern needs by providing flexibility in a demanding lifestyle, giving them the absolute freedom they desire without restrictions and time frames.

New subscription packages offer unique benefits, but they also provide a great opportunity to save money on order shipping costs. Firmness Stop the passage of light And Seaver Pass Flex Offered for 1 month, 6 months or 12 months + an additional month as a gift. Depending on the package each customer chooses, he can get up to 62% benefit in transportation costs compared to individual orders, But also to take advantage of perks, such as double the delivery time commitment and a surprise with an order on his birthday.

There will also be changes to the individual charges for transportation costs and the minimum order limits on mymarket.gr will be maintained as of Monday 04 March, which are as follows:

  • The home delivery basket changes minimum and serves orders over €40.
  • In transport costs for individual home delivery, there is now the option of delivery for a fee of €1.5 or €3, depending on the day and time of collection.
  • For orders over €90, home delivery is free.
  • For customers who make small baskets, it is possible to proceed with a My Click & Pick order with no minimum in their basket and no shipping fees or choose delivery within one hour to their door through the express service with no basket minimum and a flat shipping fee of €4.