One of the many ways the Internet is driving the global economy is through digital payments, making it easy for consumers to buy just about anything from anywhere. VisaNet is the largest payment processing network in the world, connecting 2.4 billion credit cards at 36 million locations across 200 countries.
In the news after we posted this-
Wal-Mart Canada: Retailer Says It Will No Longer Accept Visa Credit Cards
“Visa and Wal-Mart have been unable to agree on an appropriate fee for Visa transactions,” the company said. They will phase out Visa beginning with three stores in Thunder Bay, Ontario, on July 18.
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Wendy Kublek
How is this fair to people that do not want to have a master card and their bank is cibc which is a visa card and how is American express rates cheaper? it is bad enough that we can not use visa at our home town grocery store no frills but u can go up the hill pay more for groceries and they will accept visa
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Jo Gordon ..
Finally Walmart does something that could actually benefit all Canadians! If anyone can pressure Visa into more reasonable rates in Canada, it’s Walmart, so I’m happy they have dug in their heels. Visa has close to the world’s worst rates for Canadian merchants, despite constant pressure from The Canadian Federation For Independent Business. When this is settled, I hope to see some trickle down adjustment from visa to small merchants too.