Latest news with #paymentnetwork
Yahoo
4 days ago
- Business
- Yahoo
Capital One Financial Corporation (COF): CEO's Going For A 'Worldwide Card,' Says Jim Cramer
We recently published . Capital One Financial Corporation (NYSE:COF) is one of the stocks Jim Cramer recently discussed. Capital One Financial Corporation (NYSE:COF)'s merger with Discovery has made it one of Cramer's favorite stocks in the banking industry. He is particularly enthusiastic about the potential for the firm to develop one of the biggest payment networks in America and eat away market share from Mastercard and Visa. This time, however, Cramer aimed higher and indicated that Capital One Financial Corporation (NYSE:COF) might also aim at American Express: 'Okay, now get this, David. Richard Fairbank, often considered to be the actual dean of banking and I bet you even Jamie, I mean he's like Cher, would agree with that. He has put together a deal with Discover, it closed. I thought that this would never get the blessing of the Biden administration, but then, Harris didn't win. So this gets approved. He's now got the second exchange network after Amex. David, he's going for it. He's going to go for a worldwide card. And I would not bet against Richard Fairbank. Hence why it is up ten dollars of a quarter that was very confusing but it is clearly going in the right direction. In his earlier comments, the CNBC TV host discussed Capital One Financial Corporation (NYSE:COF)'s Discover deal in detail: 'The recent run is all about Capital One's acquisition of Discover Financial in an all-stock deal valued at $35.3 billion… '… Put it all together, and it's easy to see how capital stock could keep being rewarded with a higher price-to-earnings multiple. Right now, the stock sells for just 11 times next year's earnings estimates, which makes it incredibly cheap versus American Express at 20 times earnings. I use Amex because it's the closest comparison now that the Discover deal is closed…' While we acknowledge the potential of COF as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
National Post
24-06-2025
- Business
- National Post
Affirm and Moore Capital Management extend long-term capital partnership
Article content SAN FRANCISCO — Affirm (NASDAQ: AFRM), the payment network that empowers consumers and helps merchants drive growth, and the Moore Specialty Credit ('MSC') Platform, the Private Asset Backed Finance ('ABF') platform of Moore Capital Management, LP ('Moore'), a global private investment management firm, today announced an extension of their long-term capital partnership through May 2027. Article content The expansion builds upon Affirm and MSC's longstanding collaboration, which will surpass a decade through their latest forward flow agreement. As Affirm's first loan buyer, Moore has supported Affirm's efforts to increase access to flexible and transparent payment options since 2017 through multiple funding channels and partnerships. Article content Article content 'Our deep relationship with Affirm has allowed us to see firsthand their differentiated approach to driving positive credit outcomes,' said Erik Siegel, CIO of the Moore Specialty Credit Platform. 'We look forward to continuing to support Affirm as it continues to generate quality assets that deliver attractive risk-adjusted returns.' Article content Moore has invested nearly $5 billion in Affirm's assets since beginning its capital partnership in 2017. This includes multiple forward flow partnerships with Affirm and supporting the Company's asset-backed securitizations through Moore's Private ABF platform, Moore Specialty Credit. Article content 'We appreciate Moore's long-term support as one of Affirm's earliest capital partners, especially their analytical expertise and thoughtful approach to structuring,' said Brooke Major-Reid, Chief Capital Officer at Affirm. 'The expansion of our collaboration further validates our strategy of investing in foundational relationships as we extend responsible access to credit without any late fees or hidden charges.' Article content Affirm empowers consumers with a transparent and flexible way to pay over time without any late or hidden fees. The company generated over $33 billion in gross merchandise volume (GMV) for the last twelve months ending March 31, 2025. With a diverse and durable funding model across multiple channels, Affirm's total funding capacity grew to $23.3 billion as of March 31, 2025, marking the ninth consecutive quarter that funding capacity increased. As a scaled and programmatic issuer, Affirm has issued 24 asset-backed securitizations totaling $12.25 billion with participation from over 150 unique capital partners across institution types, including: alternative asset managers, insurance companies, pension funds, sovereign wealth funds, hedge funds, and banks. Article content Affirm's mission is to deliver honest financial products that improve lives. By building a new kind of payment network—one based on trust, transparency, and putting people first—we empower millions of consumers to spend and save responsibly, and give thousands of businesses the tools to fuel growth. Unlike most credit cards and other pay-over-time options, we never charge any late or hidden fees. Follow Affirm on social media: Article content | Article content Instagram Article content | Article content Facebook Article content | Article content X Article content . Article content Article content Article content Article content Media Contacts Article content Article content Affirm: Article content Article content Article content
CNET
17-05-2025
- Business
- CNET
Capital One's $35 Billion Discover Acquisition Is Set to Close on Sunday. Here's What That Means for You
CNET/Getty Images Capital One's deal to acquire Discover closes Sunday, May 18. The acquisition was cleared by federal regulators last month, so the two credit card giants are slated to merge. "The combination of our two great companies will increase competition in payment networks [and] offer a wider range of products to our customers," Michael Shepherd, interim CEO and president of Discover, said in an April press release. In February 2024, Capital One announced its plans to purchase Discover for $35.3 billion. Some experts have argued that the merger isn't good news for consumers, since Capital One is the third-largest credit card company, and Discover is one of only four credit card networks. That could mean less competition among credit card companies, leading to higher prices and fees. On the other hand, the deal could give Discover the additional backing it needs to compete with Visa and Mastercard, which some policymakers say have a duopoly on the credit card network market. American Express, the third-largest network, is both a payment network and an issuer, like Discover. More competition among payment networks could lead to lower swipe fees, which retailers could potentially pass along to cardholders. Though it's unclear exactly what changes are coming for cardholders, we'll likely start learning more within a month. What's next for Capital One and Discover credit cardholders? Your Capital One cards will likely change card networks, from Visa or Mastercard to the Discover network, sometime after the May 18 closing. This could impact not only some of the card perks and protections, but also where it's accepted. Discover has a narrower acceptance rate than Visa and Mastercard, especially outside of the US. Any changes won't be immediate, though. In the press release, Capital One said no changes will come now or immediately following the closing date. Your card issuer will alert you to changes ahead of time, so just watch for communications. In JD Power's annual customer satisfaction study of card issuers, both Discovery and Capital One rank highly in customer service, so customers shouldn't expect any new hardships after the deal goes through. The biggest change will be to your card's network. Since Capital One doesn't have a network of its own like American Express, acquiring Discover provides a missing piece. At the same time, Capital One could expand Discover's reach by adding its cards to that network. While acceptance rates could change, if you're planning a trip this summer and are worried about Discover's acceptance rate overseas, consider applying for a credit card on the Visa, Amex or Mastercard network.
