During a recent earnings call Mastercard CEO Michael Miebach announced that Mastercard & Capital One have renegotiated their long standing partnership.
In the U.S. and Canada, we extended our long-standing partnership with Capital One, where we renewed our partnership in credit, and we will be the network for a large portion of newly acquired credit accounts. And across their business, Capital One will continue to use several of Mastercard’s services
It was unclear what would happen after the Capital One & Discover merger, especially Capital One debit cards moved from Mastercard to Discover payment networks. Capital One had previously indicated wanting to move further volume over to Discover over time. Miebach & Sachin Mehra (CFO) refused to expand further when questioned regarding the Capital One renegotiation and newly acquired credit accounts.
