1. News
June 13, 2016

Walmart to stop accepting Visa cards at Canada stores from July

Walmart has decided to stop accepting Visa cards at its stores in Canada from July, due to high transaction fees.

Walmart has decided to stop accepting Visa cards at its stores in Canada from July, due to high transaction fees.

Visa’s high fees contradict the supermarket chain’s aim of maintaining business costs low and saving money for customers.

Walmart operates more than 400 stores in the country.

The supermarket chain will begin introducing the change from 18 July in phases. The company pays more than $100m a year in credit card fees, but it has not disclosed what percentage is allocated to Visa.

"We are disappointed that Walmart chose to put their own financial interests ahead of their own consumers’ choice."

The outlets will continue to accept Discover, MasterCard, and American Express, reported USAToday.com.

Visa spokeswoman Connie Kim was quoted by the website as saying: "Walmart made this business decision despite Visa offering one of the lowest rates available to any merchant in the country.

"We are disappointed that Walmart chose to put their own financial interests ahead of their own consumers’ choice."

However, Walmart’s announcement does not impact US stores.