Toronto - The US giant Walmart department stores began on Monday to reject Visa credit cards in their establishments after a deadlock on the costs that the company charges for its use.
The refusal to accept Visa credit cards began on Monday in three of the Walmart stores in the Canadian city of Thunder Bay, about 1300 kilometers northwest of Toronto.
Walmart announced last month that it would stop accepting Visa cards in their establishments after trying to negotiate with the credit company without success, "an acceptable price for the transactions."
"Every year, Walmart Canada paid more than 100 million Canadian dollars (US $ 77 million) to accept credit card. Reducing these costs is necessary for us to keep our prices low and then saving money for our customers," Walmart said in a statement.
Walmart also said its customers can continue to use credit and debit cards from other companies.
Visa said that after months of negotiations with Walmart, who offered one of the lowest costs in the country, the network of department stores want the costs associated with the use of their cards less than the charging of any other business or institution.
Faced with the refusal of Walmart to accept their cards, Visa advised in a statement on Monday that its members attend rival establishments.
"Until we reach an agreement in this trade impasse, we encourage buyers to use their cards in more than 5,200 Thunder Bay stores that accept Visa," the company said.
Walmart announced that it will extend the prohibition to accept Visa cards gradually in more than 400 establishments have in Canada.
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