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Amazon looking to buy Capital One?

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gdale6
Moderator Emeritus

Amazon looking to buy Capital One?

Amazon is rumoured to be pondering the acquisition of Capital One. Banking Technology contacted both parties for a comment but received no response.

 

http://www.bankingtech.com/735552/amazon-looking-to-buy-capital-one/

Message 1 of 8
7 REPLIES 7
Anonymous
Not applicable

Re: Amazon looking to buy Capital One?

Interesting, I just got a $50 Amazon gift card sign up bonus for the 360 checking, I wonder if that is possibly connected, as they were seeing how many Amazon users would want a cap one account....

Message 2 of 8
Anonymous
Not applicable

Re: Amazon looking to buy Capital One?


@gdale6 wrote:

Amazon is rumoured to be pondering the acquisition of Capital One. Banking Technology contacted both parties for a comment but received no response.

 

http://www.bankingtech.com/735552/amazon-looking-to-buy-capital-one/


On the seventh day he slept ...

Message 3 of 8
Anonymous
Not applicable

Re: Amazon looking to buy Capital One?

Makes sense, they both have cool swooshy logos. Maybe they'll buy Nike next. Smiley Very Happy

 

On a serious note it's an interesting idea. I wonder what might happen to all the Chase co-branded and Synchrony store cards if this went through. If the Amazon VS was Cap1 I'd app now.

 

Message 4 of 8
Anonymous
Not applicable

Re: Amazon looking to buy Capital One?

Interesting. Thanks for the post.

Message 5 of 8
Dalmus
Valued Contributor

Re: Amazon looking to buy Capital One?

"Stored value cards" is just  fancy name for gift cards, I assume?

 

 Interesting logic, interpreting them as "deposit accounts."  I guess technically you are "depositing" money into an "account."  But who actually considers their gift cards as an actual deposit account asset (on the consumer end)?

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Message 6 of 8
iv
Valued Contributor

Re: Amazon looking to buy Capital One?


@Dalmus wrote:

"Stored value cards" is just  fancy name for gift cards, I assume?

 

 Interesting logic, interpreting them as "deposit accounts."  I guess technically you are "depositing" money into an "account."  But who actually considers their gift cards as an actual deposit account asset (on the consumer end)?


Quite a few of the under-30 crowd?  And a large segment of the "unbanked".

 

Stored-value Visa/MC cards are being pushed to many demographics as a checking account in all but name...

 

Payroll direct deposits can go to some (some companies push that as the default payment method, with cards they supply, even).

 

Welcome to the world of "millennial finance".  (You may not enjoy your stay...)

 

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Message 7 of 8
Anonymous
Not applicable

Re: Amazon looking to buy Capital One?

Seeing that three of my four cards (Amazon Prime Store, Cap One secured and Cap One unsecured) are either Cap One or Synchrony, I am also very interested in how this would affect all those accounts if Amazon does buy Cap One. Being candid, I wouldn't say no to having my Synchrony Amazon Prime Store card converted to an Amazon Visa...

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