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February 21, 2014updated 04 Apr 2017 4:08pm

Capital One purchases pwnership stake in clearXchange

Credit card company Capital One has purchased an ownership stake in US P2P network clearXchange, which is owned and run by US banks.

By Angelo Boccato

Credit card company Capital One has purchased an ownership stake in US P2P network clearXchange, which is owned and run by US banks.

This acquisition will enable Capital One’s customers to pay anyone with a US bank account without revealing account details.

Jack Forestell, digital executive vice president at Capital One commented: "Capital One is focussed on bringing its customers innovative products and services that allow them to spend wisely and transact easily – when, where and how they want.

"Partnering with clearXchange is another way we are bringing safe and secure payments through convenient, digital channels to our customers".

Mike Kennedy, CEO of clearXchange said: "We are excited to add Capital One to our network.

"This partnership expands the value of the clearXchange network by enabling more customers to easily make secure payments to their friends and family, and it will drive additional innovation in person-to-person payments".

Capital One has become through this acquisition the fourth company to buy into clearXchange ownership, alongside Bank of America, JP Morgan Chase and Wells Fargo.

 

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Global Payments agrees to buy PayPros for $420m

 

 

 

 

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