Decoupled Debit Card
In May 2007, the company began an experiment that came to be known as a decoupled debit card. This card is novel in that prior to this launch, a debit card was always tied to a traditional financial institution, such as a bank or credit union.
CapitalOne's Visa-branded decoupled card did not require that an account be opened with a "merchant" financial institution, and was made in partnership with the Ukrop's Super Markets, a Richmond-based grocery-store chain, and Sheetz, a regional gas-station and convenience-store chain. The Ukrops card was also tied to the grocer's reward program.
That one-year experiment ended in May 2008, and was followed up with a national rollout of its own version of a decoupled debit card tied to its own reward program.
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