MY EMAIL FROM SMITH'S:
Effective April 3, 2019, we will no longer accept Visa® credit cards. View in your browser
smithsfoodanddrug
Effective April 3, 2019
Due to excessive bank fees, we will no longer accept Visa® credit cards.
We will gladly continue to accept Visa® debit cards, plus all other major credit and debit cards.
Do you have a Visa® credit card saved in your Smith's digital account?
Check My Wallet and update your payment type if necessary.
------------------
(Reuters) - U.S. supermarket chain Kroger Co on Friday said its Smith's Food and Drug Stores division will stop accepting Visa Inc's credit cards, starting April 3, because of excessive transaction fees.
Kroger had stopped accepting Visa's credit cards at its Foods Co stores in California in August last year, because of a price dispute over interchange rates and network fees.
"At Smith's, Visa's credit card fees are higher than any other credit card brand that we accept. Visa's excessive fees and unfairness cannot continue to go unchecked," Kroger's Chief Financial Officer Mike Schlotman said https://reut.rs/2NzW0oi.
The company added it is going to continue to explore other options to reduce the cost of accepting credit cards and keep prices low for customers.
"It is unfair and disappointing that Kroger is putting shoppers in the middle of a business dispute," a Visa spokeswoman said, adding that the company has put forward a number of solutions to allow its cardholders to continue using their credit cards at Foods Co and Smith's "without Kroger-imposed restrictions."
"When consumer choice is limited, nobody wins," she added.
If you think education is expensive, try ignorance.
| 