Walmart Canada to stop accepting VISA? Nope...
http://www.nasdaq.com/article/walmart-s ... 0610-00554By Sarah Nassauer, Rita Trichur and Robin Sidel
Wal-Mart Stores Inc. said it would stop accepting Visa Inc. cards at its stores across Canada, the latest salvo in an escalating battle between the two companies.
The retailer, which has 405 stores in Canada, said it was unable to agree on terms with the credit-card processor. It will stop accepting Visa cards starting with three stores in Thunder Bay, Ontario, on July 18.
"We're constantly working to reduce our operating costs, including credit card fees," the spokeswoman added. " Unfortunately, Visa and Wal-Mart have been unable to agree on an appropriate fee for Visa transactions."
Who will suffer more: VISA or Walmart? Pretty sure both will come to an agreement. Still interesting to see both playing hardball.
[Update] Agreement between VISA and Walmart was reached: