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Friends Again - WalMart and VISA reach a truce in a months long war of high-interest words

Friends Again - WalMart and VISA reach a truce in a months long war of high-interest words 2017-01-06
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Brian  Vendramin

Since last July WalMart Canada and VISA have been in a standoff.

The retail giant claimed it was paying out more than 100 million dollars in fees to VISA.

VISA on the other hand claimed it offered WalMart one of the lowest transaction processing rates of any merchant in the country.

Neither side would budge and the result was WalMart removing VISA from the purchase option at 19 stores in Canada with a threat to extend the action to its 400 plus stores Canada-wide.

Earlier this week - both sides made up. And VISA is now welcome at WalMart.

So who won? And what will it mean for consumers? Will shoppers absorb the 100 million in fees or could WalMart just simply not afford not to accept the credit card.

Brian Vendramin is an expert in the areas of retail business and marketing. His insight and perspective have made him a regular with local media. Brian is available to speak about this topic and share his opinion. Simply click on Brian's icon to arrange an interview.

Source:
CTVNews

Walmart lifts visa card ban at 19 canadian stores

The high-profile standoff between walmart canada and visa canada that saw the world’s largest retailer refuse to accept the popular credit card at a number of canadian stores came to an abrupt end on Thursday.

CTVNews