Would be a great move! Amazon is rumored to have an interest in acquiring Capital One. The acquisition would enable cost savings by owning a greater swathe of the payments value chain, in addition to gaining Capital One's customer base and their spending data. Additionally regulators may classify cash held in e-commerce apps as "deposits," making it beneficial to acquire Capital One's regulatory expertise
Amazon is rumoured to be pondering the acquisition of Capital One. Banking Technology contacted both parties for a comment but received no response. Capital One, which pioneered the mass marketing of credit cards in the 1990s, is among the top ten bank holding companies in the US ranked by assets and deposits. The bank has 800+ domestic branches, including around ten Capital One Café locations (coffee-shop style), and over 2,000 ATMs. It also conducts business in Canada and the UK. In 2015, 62% of the company’s revenues were from credit cards, 28% was from consumer banking, and 10% was from commercial banking. Its total assets in 2015 stood at $334 billion. Capital One is also one of the largest users of Amazon’s AWS cloud in the financial services space.
