Walmart has grown tired of its relationship with VISA, and has decided to stop accepting VISA cards at its stores in Canada. The retailer announced last weekend that “unacceptably high fees” has prompted it to stop accepting Visa cards beginning July 18th. Walmart says it then plans to reject the cards at its more than 400 other Canadian locations.
“We believe Visa’s fees should be lower for everyone, whether they are a large retailer, small retailer or a charity,” Walmart said in a statement. “Canadians deserve better than paying a hidden fee that is four times higher than consumers pay in other countries. We are taking a stand for our customers because Visa’s high fees can result in increased prices.”
Although many other, smaller companies are backing Walmart’s decision, Visa is planning to fight back against the sudden change, and vows to stand up for it’s customers.
Kelly Cutrara speaks to the issue on Talk Radio AM640…