Category: News

There aren’t any signs the dispute between Walmart and Visa (dubbed “Goliath vs. Goliath”) is going to end anytime soon. In fact, retail giant Walmart has upped the ante, announcing last week it is expanding its ban on Visa credit cards to the province of Manitoba. Starting October 24th, Walmart will no longer accept Visa at all of its 16 locations in Manitoba. This follows Walmart no longer accepting Visa at its three Thunder Bay locations in July.

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Last month we wrote about the ongoing battle between Walmart and Visa over interchange fees. Walmart has been relentless in its demand for lower fees, but Visa is refusing to budge, claiming the retailer giant is asking for lower fees than local grocers, pharmacies, convenience stores, charities and schools.

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Another credit card relationship has gone sour. This one involves some pretty major players – Canada’s largest drugstore chain and biggest bank.

Shoppers Drug Mart and RBC are parting ways on their co-branded Shoppers Optimum MasterCard and debit card. As of right now both cards are no longer available. If you’re one of the 200,000 existing cardholders, you’ll be making the switch over to “other RBC banking products” in the fall.

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Credit card interchange fees are once again making news headlines. In what has been dubbed as the battle of Goliath versus Goliath, Walmart and Visa are in a battle over interchange fees .

Walmart is upset over high interchange fees. Walmart says is spends more than $100 million each year on interchange fees for credit cards like Discover, MasterCard and Visa. The big box retailer has threatened to reject Visa cards at its more than 400 locations in Canada, starting at its Thunder Bay stores on July 18. This would be a big blow to Visa, as Walmart is one of its biggest clients.

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