Wal-Mart to stop accepting Visa cards in Canadian stores
It will stop accepting Visa cards starting with three stores in Thunder Bay, Ontario, on July 18.
"After Thunder Bay, it'll be a phased approach across the country. It's limited to Canada," a Wal-Mart spokeswoman said.
Visa said it "regrets" Wal-Mart's decision, saying it will have a "negative impact" on shoppers in Canada.
"We are disappointed that Wal-Mart chose to put their own financial interests ahead of their own consumers' choice," the company said. Visa added that Wal-Mart made the decision "despite Visa offering one of the lowest rates available to any merchant in the country."
Wal-Mart will continue to accept MasterCard, American Express, Discover and other cards, said the Wal-Mart spokeswoman. ■