Wal-Mart Says It Will Stop Accepting Visa Cards in Canadian Stores

[Locutus]

boss battle

June 11, 2016 – Following an evaluation of credit card transaction fees in Canada and the rest of the world, we have concluded the fees applied to Visa credit card purchases remain unacceptably high.

Walmart’s purpose is to save customers money so they can live better. We are committed first and foremost to this purpose, which requires us to keep costs as low as possible.

To ensure we are taking care of our customers’ best interests and delivering on our promise of saving customers money, we constantly work to reduce our operating costs, including credit card fees. Unfortunately, Visa and Walmart have been unable to agree on an acceptable fee for Visa transactions. As a result we will no longer accept Visa in our stores across Canada, starting with our stores in Thunder Bay, on July 18, 2016. This change will then be rolled out in phases across the country.

To keep prices low we continuously assess opportunities to lower our operating expenses. Walmart Canada pays over $100 million in fees to accept credit cards each and every year. Lowering costs such as these is necessary for us to be able to keep our prices low and continue saving our customers money.

Customers will continue to be able to use other forms of payment including cash, Interac debit, MasterCard, Discover, and American Express.

Walmart Canada - Walmart Canada Statement Regarding Visa Credit Card Purchases

Wal-Mart Says It Will Stop Accepting Visa Cards in Canadian Stores - WSJ

http://www.cbc.ca/news/business/walmart-canada-visa-1.3630956

 

[tay]

Maybe WalMart publicizing this thinks their customers will call VISA and urge them to make a deal that lowers the charge....

 

[Angstrom]

COSCO already not accepting VISA.

 

[spaminator]

at least Walmart isn't asking for a visa.

 

[Curious Cdn]

Walmart is now charging 5¢ for one of their 10 angsrom thick bags. Poor old Sam Walton seems to be experiencing tough times.

COSCO already not accepting VISA.

I don't think that the Loblaw's chains are, either.

 

[IdRatherBeSkiing]

I never pay for bags. I usually forget the reusable ones in the trunk so I am the guy showing the line down packing individual stuff back into the cart. And heaven forbid security stops me.

My guess is they are bluffing and betting VISA will blink. If they don't they probably will follow through. I feel fairly confident that Walmart will continue to accept my Walmart MC.

 

[mentalfloss]

Capitalism

 

[IdRatherBeSkiing]

Capitalism

Yep, a free market. I think the only thing they legally have to take is cash.

 

[bill barilko]

COSCO already not accepting VISA.

You mean Costco.

And for sure No Frills here in BC doesn't take Visa no idea about the others in that group.

 

[Curious Cdn]

I never pay for bags. I usually forget the reusable ones in the trunk so I am the guy showing the line down packing individual stuff back into the cart. And heaven forbid security stops me.

My guess is they are bluffing and betting VISA will blink. If they don't they probably will follow through. I feel fairly confident that Walmart will continue to accept my Walmart MC.

Mastercard wangles exclusive use deals here and there. For several years, Tim Horton's only took cash and Mastercard, not even debit. I wonder how many millions a day went to the next coffee shop because of the lack of payment options? They take debit now (and Visa) and the genius who negotiated that slick, exclusive deal with MC is frying up Timbits in Resolute Bay, right next to the other genius who said that a Tim Horton's at Khandahar Air Field didn't fit their marketing plan, at that time.

 

[IdRatherBeSkiing]

Mastercard wangles exclusive use deals here and there. For several years, Tim Horton's only took cash and Mastercard, not even debit. I wonder how many millions a day went to the next coffee shop because of the lack of payment options? They take debit now (and Visa) and the genius who negotiated that slick, exclusive deal with MC is frying up Timbits in Resolute Bay, right next to the other genius who said that a Tim Horton's at Khandahar Air Field didn't fit their marketing plan, at that time.

They also take AMEX if you do it through Apple Pay.

 

[Kreskin]

My heart breaks for the Waltons. Anything to help them maintain their extreme wealth is good in my books.

 

[personal touch]

Smart move on Wallmarts self governing and profitability margins,this is of course if a proper assessment proved the interest of disengaging with Visa could make these opportunities.
A good assessment starts with good information design and ongoing loyal laisons and partnerships within this designs leads to monopolization and opportunities of profit
Congratulations WalMart
And one more thing good design begins with an information auditor,a good auditor,like me,
Narcissistic me,PT

 

[MHz]

It probably just means that Dollarama is about to start accepting them.

Why not pre-date this and use the downturn as cutting emissions?? They would be cutting us a cheque.
Welcome To Hell: Alberta Passes Carbon Tax, Who'sÂ*Next? - Home - The Daily Bail

Smart move on Wallmarts self governing and profitability margins,this is of course if a proper assessment proved the interest of disengaging with Visa could make these opportunities.
A good assessment starts with good information design and ongoing loyal laisons and partnerships within this designs leads to monopolization and opportunities of profit
Congratulations WalMart
And one more thing good design begins with an information auditor,a good auditor,like me,
Narcissistic me,PT

. . . or Visa is now included on all debit cards only there is no credit, it runs on available funds but it is accepted on-line as that is all the credit us bottom feeders need for the foreseeable future.

 

[darkbeaver]

Walmaet can go fukk themselves. I do Visa, you don;t, fukk off I don't need the hose fiitting that bad, the lawn can wait. You will wither and die first. Visa is god the world ove, Wallmart is dung citry.

 

[taxslave]

If and it is a big if walmart really cares about keeping prices down why do they not offer a discount for cash equal to the cc fees?

 

[Kreskin]

Cash isn't much different. Possibly more expensive. That's why they always offer cash back at the till. Cheaper to hand it out then handle through armoured car and/or bank.

 

[IdRatherBeSkiing]

If and it is a big if walmart really cares about keeping prices down why do they not offer a discount for cash equal to the cc fees?

Because there is actually a clause against this in most CC agreements.

 

[personal touch]

Walmaet can go fukk themselves. I do Visa, you don;t, fukk off I don't need the hose fiitting that bad, the lawn can wait. You will wither and die first. Visa is god the world ove, Wallmart is dung citry.

Stick to your ideals of what you support and what you will not support,this resulting in a happy heart.
Let the sunny days live true

 

[Danbones]

Walmart is trying to increase online sales VS Amazon which kicks walmarts butt in that departement
I suspect walmart is using their usual tactic of trying to force suppliers of goods and services costs into debasement
to that end

BTW
in Canada only online stores who subscribe to the service accept visa debit, while in the whole rest of the world Visa debit is accepted by all online retailers