Walmart and Canadian Consumers

Canadian stores: Walmart is unfairly dragging millions of Canadian consumers into the middle of a business disagreement that can and should be resolved between our companies, it wrote in an open letter published this morning in several Canadian daily newspapers, according to The Toronto Star. After months of negotiations, Walmart quietly announced last weekend that unacceptably high fees has prompted it to stop accepting Visa cards beginning July 18 at stores in Thunder Bay, Ont. By Ross Marowits The Canadian Press Thu., June 16, 2016 Visa is accusing Walmart of using consumers as pawns in its battle over merchant fees by threatening to ban the popular credit card from its Canadian stores. The retailer then plans to reject the cards at its more than 400 Canadian locations. Article Continued Below Visa defended itself, saying it offered Walmart one of the lowest rates of any merchant in Canada. Walmart said it pays more than $100 million in fees annually for customers using credit cards like Visa, Master Card and Discover. (news.financializer.com). As reported in the news.