Wal-Mart to Decline Visa Debit Cards
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Wal-Mart Stores Inc., the biggest retailer, said it will stop accepting debit cards handled by Visa International Inc.’s Interlink subsidiary after the unit raised fees it charges merchants.
The Bentonville, Ark.-based retailer, which led an antitrust lawsuit against Visa and MasterCard International in the late 1990s, said an increase of fees on Interlink cards to 45 cents a transaction, from 20 cents, was too steep. Wal-Mart will stop accepting the cards Oct. 13.
Wal-Mart said it will continue to let customers pay with debit cards from networks such as NYCE, AFFN, Pulse and Star, as well as standard credit cards.
Wal-Mart said Interlink cards account for less than 10% of its total debit card business.
“We regret that Wal-Mart has decided to deny consumer choice at the point of sale,” Visa said.
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