It could still be closed loop. JPMorgan has ChaseNet, a closed loop system and i...

		bena on Feb 23, 2024 \| parent \| context \| favorite \| on: The Fed is behind the Capital One/Discover merger It could still be closed loop. JPMorgan has ChaseNet, a closed loop system and it issues Visa and Mastercard cards. It was mostly rules from Visa and Mastercard that prevented American Express from being offered by more banks.