Breaking News! Walmart Has Stopped Accepting Visa Cards!
Walmart started rolling out this new change in phases. I want to make it very clear up front before anyone gets too worked up about this that this change only applies to Walmarts located in Canada (but I encourage you to read through to the end of the post as to why we would post this!) They have stated that they feel the fees associated with the cards are too high. If you are not aware, every time you swipe that convenient little card, the company you are paying gets charged a fee. With cards becoming the predominant form of payment these days, those little fees (up to 21¢ per swipe for debit cards and possibly even more for credit cards) really add up! Walmart Canada Pays out over 100 million dollars in fees annually to banks and credit card companies. They have opted to cut Visa Cards out of the equation altogether versus jacking up the prices to offset costs. Walmart feels this change is what benefits their customers the most, while Visa claims this change hurts the consumers. What do you think?
I just wanna say, I was reluctant to post this because we are an American site, but there are two reasons I think its important. First, there’s a good chance that those of you that live in or close to a Canadian border town in the US may venture into Canada since that may be the closest Walmart available or maybe you just need to get your fix of Becel and Ah Caramel Cakes (Both so good!) Second, I can’t help but wonder if this change proves to be successful for Walmart, could this affect US Walmarts further down the road? That’s a lot of money for them to be saving and there are a lot more stores in the US than in Canada. Only time will tell I suppose. Feel free to leave you thoughts and comments on our Facebook page in regards to this change! I’d love to hear your opinions!