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Customers shopping at Walmart Canada stores in the Manitoba province will soon see change in payment options. Visa credit cards will no longer be accepted at the 16 locations.
The boycott officially begins Oct. 24. Walmart spokesman Randy Hargrove announced the big-box’s decision, stating high transaction fees as the reason, USA Today reports.
While Walmart and Visa’s conflict over credit cards began this summer, disagreements between the companies have continued. Hargrove says Walmart Canada is working to keep prices low. One way is by addressing high transaction fees.
“Unfortunately Visa has not been willing to provide a reasonable rate to continue accepting their cards,” Hargrove says to USA Today. “We believe credit-card fees should be lower for everyone, whether they’re a large retailer, small business or charity.”
In a press release, Walmart Canada adds that the company “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 visiting stores in Manitoba effected by the Visa boycott will be able to use other forms of payment. These include cash, MasterCard, Discover and American Express, according to Walmart Canada. Additionally, the company will continue discussions with Visa in efforts to get lower transaction rates.
