Capital One Gets the Greenlight to Move Forward With Discover Acquisition - CNET
Interesting, not entirely happy with this as I like my Discover card as it is, but this could get interesting, as Mastercard and Visa have a near monopoly control over credit card transactions.
Right now, if'n you buy something, it doesn't matter the bank on the card, nor the payment gateway the store uses, if'n it's a Mastercard or Visa, the transaction goes through their network, which is why they can force websites to restrict content. Capital One is one of the biggest credit card banks out there, so them switching networks is going to have a notable impact on MC and Visa, after all, those companies make money by charging a fee on every transaction, so C1 switching to Discover is going to take a lot of money away, and save C1 money as they won't have to pay for processing. Also since they collect interest on each account, they have a motivation to allow you to buy what you want to buy, so this might break MC and Visa's censorship.