Walmart Canada To Stop Accepting Visa Cards Due To 'Unacceptable' Fees
June 13, 2016 | 1 min to read
Walmart says it intends to join the list of retailers in Canada that don't accept Visa cards, citing high fees for transactions. It's a move one retail analyst has said will cause "pain on all sides."
All credit cards charge fees to retailers, which generally are between one per cent and 2.5 per cent of the cost what's being sold. The fees vary depending on the type of card the customer is using — cash-back and premium cards generally have higher fees — and the type of retailer they're shopping at.
Walmart Canada quietly made the announcement on Saturday that it would gradually stop accepting Visa cards at all of its locations, citing "unacceptably high" fees.
To read the rest of the story, please go to: The Canadian Press