Walmart Canada to stop accepting Visa as form of payment

[ilovecats]

Walmart Canada is going to stop accepting Visa as a form of payment, beginning in July in Thunder Bay.

[Addictedtodeals]

Wow. Costco changes to master card and now walmart won't accept visa? Im going to change my points creditcard again... smh.

[Poirot]

They are sure desperate to get people to use their Walmart Mastercard.

[Angela273]

No Frills doesn't allow VISA and Iwas given the same explanation about high fees.

[seylz_gurl]

wow, that will hurt VISA, didn't realize their fees were higher.

[Mia001]

1) no more rain cheques
2) pay your bags
3) no Visa

well , what'S next with them , refilling milk bottles ?

[bhlombardy]

Starting Next month, Walmart Canada will be phasing out the acceptance of Visa credit cards.

It will begin with the three stores in Thunder Bay, ON and gradually spread to the rest of Canada.

They will continue to accept Mastercard, American Express, Interac Debit, Cash... and Discover (?!).

See story here: http://www.huffingtonpost.ca/2016/06..._10416642.html


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[walkonby]

doesn't this seem odd? I mean Visa and MC are the 2 most widely used/accepted cards aren't they? Wondering if this is because WM is based in the States....if anything MOST stores give you grief over Amex as opposed to Visa.

[bhlombardy]

The story says this is only in Canada, so I doubt it has anything to do with the US.

[torontogal12]

I always thought Amex fees were the highest of all for merchants. Walmart is too far away for me anyway but I"m not signing up for a Mastercard just so I can use it at Walmart on the 3 or 4 times a year that I go there. Will probably just reduce the amount of times I go

[ilovecats]

I always thought Amex fees were the highest of all for merchants. Walmart is too far away for me anyway but I"m not signing up for a Mastercard just so I can use it at Walmart on the 3 or 4 times a year that I go there. Will probably just reduce the amount of times I go

The thing with Amex is, fees are negotiated with the retailers, so the retailers know up front what they are paying when someone uses their card. It's different with Visa and Mastercard. Those with the loyalty cards are the ones that cost the retailers the most.

[SassyAshley]

Plan and simple they have lost any of my business when I shop for work. Our company cards are Visa so now Sobeys, Metro & RCSS will get this business which is usually a higher amount then my day to day shopping as we are feeding a large number of people and we try to make sure to offer an assortment.

[bhlombardy]

While I don't disparage anyone's initial objection, I think Walmart is in a pretty unique position.

People I know with whom I've shared this news have had the similar knee-jerk reaction: "well, I guess I'll just stop shopping there" hasnt considered the options... where else are you going to shop?

There isn't another discount department store that operates on the level that Walmart does... neither in mass, selection, nor price (for the most part) that also offers as much "one-stop shopping" options as Walmart. We just don't have another choice. No Zellers, no Kmart, no Target... and Giant Tiger really doesnt compare nor compete on the same level.

MANY families rely on Walmart to clothe their families, if nothing more... the addition of groceries, and then Christmas shopping... I dont think anyone can easily swear-off Walmart entirely. I know it's technically possible, but if you're already an avid shopper, it won't be easy to start paying more and buying less elsewhere.

And while some banks offer both MC and Visa, Visa is the default 'free' card of choice for most banks in Canada and their customers. So for those people with tight financial binds that maybe only have one credit card, and it happens to be a Visa card because it's what their bank provides.... I can bet that in the weeks and months to come, everyone who offers to pay with said Visa at Walmart will be offered a Walmart Mastercard under the pressure that their Visa will soon no longer work. -- much like Costco did with Amex-paying customers in the months before they jumped ship from Amex. - And I'd be willing to double-down on that bet that Walmart customers will be 'automatically approved' for the WM-MC simply because they already have a credit card... even if it's a small spending limit to begin with.

As for me, I have no reason to stop my usual shopping there (which is limited as it is). This choice to drop Visa doesn't affect me in the least. When I go there I pay with either cash or debit anyway, so it's really no difference to me, and I'm curious how many more are like me in that regard. And if it happens that I'm making a larger purchase, I have a Mastercard that I'll use just the same.

While it might be OK for one's instinct to say "I'll shop elsewhere" ... the harsh reality is "where else will you shop?" -- and if Walmart gives you good enough reason with auto-approval of THEIR card, why would anyone really change their habits?

[Shwa Girl]

No Frills doesn't allow VISA and Iwas given the same explanation about high fees.

I think the real reason for No Frills, is that they prefer customers to use PC Financial mastercard.
I think the real reason for Walmart, is that they prefer customers to use the Walmart mastercard.

Walmart is in competition with Amazon for shoppers $$, especially in the US.
Walmart share price first quarter did not meet expectations, in the US.

It's too bad this news comes as they introduce the 5 cent bag fee.
It's too bad this news comes as they stop Canada wide price matching.

[torontogal12]

Visa said it gave Walmart one of the lowest rates in Canada http://www.cbc.ca/news/business/walm...visa-1.3630956
And remember that Walmart has its own Mastercard and its probably in their interest to promote it this way. There is a law that says stores who accept Visa cannot discriminate which cards they accept. So if they take a non-points Visa card with a 3% merchant fee, they also MUST take a points Visa card with a 6% merchant fee. That's the law so maybe there needs to be a change there.

I personally think a discount for using cash or Interac is the best way