Topic: Walmart Canada to stop accepting Visa cards (Read 268 times)
Great news. They should also ban MasterCard. A fee of 1.8% can't be justified, when the other payment processors (Bitpay, Qikwipay.etc) are charging just 0.1% or 0.2%.
Walmart Canada to stop accepting Visa cards
https://www.theguardian.com/business/2016/jun/12/walmart-canada-to-stop-accepting-visa-cards-high-fees
<< Walmart Canada stores will stop accepting Visa cards, claiming the credit card provider charges merchants "unacceptably high" fees. Walmart has been unable to agree with Visa on an "acceptable fee", and will no longer accept the company's credit cards starting 18 July , it said in a statement. The move will not affect the US stores of parent Wal-Mart Stores.
A Visa spokeswoman said in a statement it offers "one of the lowest rates available to any merchant in the country" and said Walmart Canada's decision will have a negative impact on shoppers. Representatives of Walmart Canada and Visa declined to address questions on specifics of payment terms.
A Walmart Canada spokesman said the retailer pays more than C$100m ($78.27 m) in credit card fees every year, but specific transaction fees are part of "confidential agreements". Canadian retailers have long complained about what they call the high interchange fees they pay credit card companies. >>
Jump to: