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Walmart and Visa’s conflict over credit cards has gotten bigger.
Starting July 18, Walmart Canada will begin to phase out Visa as a credit card its retail stores accept, according to the company.
A U.S. lawsuit Walmart filed against Visa this year focuses on the security of Visa debit card payments. The company’s Canada disagreement is about the costs associated with accepting payments via Visa credit cards.
“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,” the company says.
“Unfortunately, Visa and Walmart have been unable to agree on an acceptable fee for Visa transactions. … Lowering costs such as these is necessary for us to be able to keep our prices low and continue saving our customers money.”
Walmart Canada will continue to accept payments via American Express, Discover and MasterCard.
