BENTONVILLE, Ark.—In the growing battle between Walmart and Visa, the retail giant has stopped accepting Visa credit cards at three of its Canadian stores, the Wall Street Journal reported.
The fight is largely over the fees Walmart pays Visa when customers use the plastic in its stores.
Despite months of talks, Walmart said it was unable to agree on terms with Visa. The retail chain argued that the fees it pays when shoppers use the cards are too high, the Journal stated. U.S. stores, which account for 62% of Walmart's global sales, are unaffected by the Canada dispute and work under a different agreement.
Late last year Walmart announced the rollout of Walmart Pay, a smartphone-based payment solution that the company said works with all credit and debit cards, as well as its own gift cards. Experts have stated that Walmart’s ingenuity and ongoing desire to cut costs and promote its own brand to its customers cannot be overlooked.