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


Locutus
#1
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 (external - login to view)

Wal-Mart Says It Will Stop Accepting Visa Cards in Canadian Stores - WSJ (external - login to view)

http://www.cbc.ca/news/business/walm...visa-1.3630956
 
tay
#2
Maybe WalMart publicizing this thinks their customers will call VISA and urge them to make a deal that lowers the charge....






 
Angstrom
#3
COSCO already not accepting VISA.
 
spaminator
#4
at least Walmart isn't asking for a visa.
 
Curious Cdn
+1
#5
Walmart is now charging 5˘ for one of their 10 angsrom thick bags. Poor old Sam Walton seems to be experiencing tough times.

Quote: Originally Posted by AngstromView Post

COSCO already not accepting VISA.

I don't think that the Loblaw's chains are, either.
 
IdRatherBeSkiing
#6
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
+1
#7
Capitalism
 
IdRatherBeSkiing
+2
#8  Top Rated Post
Quote: Originally Posted by mentalflossView Post

Capitalism

Yep, a free market. I think the only thing they legally have to take is cash.
 
bill barilko
#9
Quote: Originally Posted by AngstromView Post

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
#10
Quote: Originally Posted by IdRatherBeSkiingView Post

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
#11
Quote: Originally Posted by Curious CdnView Post

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
-1
#12
My heart breaks for the Waltons. Anything to help them maintain their extreme wealth is good in my books.
 
personal touch
#13
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
#14
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 (external - login to view)

Quote: Originally Posted by personal touchView Post

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
+1
#15
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
+1
#16
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
#17
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
#18
Quote: Originally Posted by taxslaveView Post

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
#19
Quote: Originally Posted by darkbeaverView Post

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
+1
#20
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
 
personal touch
#21
It is a new order,word wide of consumerism.
Walmart can do what they want,but consumer ideals will decide what is going to be successfully tolerated
Don't forget profile of Walmart customers,questions like who and how are they operating their own credit department?
Taking advantage of the underprivileged,not sure!
I guess Walmart wants to get in the money game
 
B00Mer
#22
Quote: Originally Posted by darkbeaverView Post

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.

You can't afford Walmart, stick with your Thrift Store and it's second hand clothes.
 
EagleSmack
#23
I wonder if Walmart will have to cut back on their employees.




 
B00Mer
+1
#24
Quote: Originally Posted by EagleSmackView Post

I wonder if Walmart will have to cut back on their employees.

Yeah that would suck for Walter.. pretty hard to find employment after you've been a Walmart greeter.
 
EagleSmack
#25
uh huh


 
JLM
#26
Quote: Originally Posted by EagleSmackView Post

I wonder if Walmart will have to cut back on their employees.





All depends if the savings translates to lower prices! Could go the other way!
 
B00Mer
#27
Quote: Originally Posted by EagleSmackView Post

uh huh


Yup, check this out.. Just put a deposit on this puppy, contingent on a contract bringing Alberta Beef from Calgary to Texas..

Used Semi Tractors for Sale | Used Heavy-Duty Trucks | Ryder (external - login to view)

Hopefully by weeks end.

I miss over the road... Local driving sucks.. I need to travel..
 
Ludlow
+1
#28
Quote: Originally Posted by darkbeaverView Post

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.

You follow the farkin rules like everyone else Darkbungchute. Do as you're told.
 
JLM
#29
Quote: Originally Posted by darkbeaverView Post

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.


And what does that translate into in English?
 
IdRatherBeSkiing
+2
#30
Quote: Originally Posted by darkbeaverView Post

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.

#walmartexit?
 

Similar Threads

49
Wal-Mart to close 269 stores
by spaminator | Feb 1st, 2016
no new posts