Group 1 - Capital One has received federal approval to acquire Discover for $35.3 billion, with the deal expected to close on May 18 [2][3] - The merger is anticipated to enhance competition in payment networks and expand product offerings for customers, according to Discover's interim CEO [2] - Concerns have been raised that the merger may reduce competition among credit card companies, potentially leading to higher prices and fees for consumers [3] Group 2 - The acquisition could provide Discover with the necessary support to compete against Visa and Mastercard, which dominate the credit card network market [4] - Increased competition among payment networks may result in lower swipe fees, benefiting retailers and potentially cardholders [4] - Changes for cardholders are expected to be communicated in advance, with no immediate alterations following the merger's closing [6][7] Group 3 - Capital One's credit cards are likely to transition from Visa or Mastercard to the Discover network after the merger [6] - This change may affect card perks, protections, and acceptance rates, particularly outside the US, as Discover has a narrower acceptance compared to Visa and Mastercard [6][8] - Both Capital One and Discover rank highly in customer service, suggesting that customers may not face significant challenges post-merger [7]