The
American retail giant Wal-Mart, GE Consumer
Finance and Discover Financial Services, a subsidiary
of Morgan Stanley, are to launch a new credit
card: "Wal-Mart Discover".
This new card, which will be available in March
2005, will be issued by GE Consumer Finance,
which already handles Wal-Mart's store card.
The launch of this new card reflects the changing
card market in the United States, and more particularly
recent American court rulings which have put
an end to the long-standing antitrust practices
of the two most powerful payment card brands,
Visa and MasterCard, which prevented members
of their network from distributing cards other
than theirs.
