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The Capital One-Discover deal impacts credit card industry and consumers, highlighting financial challenges and opportunities.

The companies are teaming up, in part, to expand their payment network. Discover is the smallest of the four U.S.-based payment networks, which also include Visa, American Express and Mastercard.

The proposed acquisition would create the biggest credit card company in the US.

US banking giant Capital One announced Monday it will acquire financial services company Discover in a $35.3 billion all-stock deal combining two of America's major credit card firms.

Capital One's acquisition of Discover Financial for billion will reshape the credit card market, offering enhanced financial solutions.

If negotiations proceed, Discover's value could surpass its current market valuation of $28 billion.

Capital One's potential acquisition of Discover Financial could reshape the financial industry landscape.

Capital One will buy smaller credit-card rival Discover Financial for $35.3 billion in an all-stock deal, a 27% premium.