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Wealth Professional | 15 Jun 2016, 08:15 AM Agree 0
Walmart has announced it will no longer accept Visa cards in Canada due to high interchange fees. The move could put millions of dollars at stake for Canadian banks that issue the cards
  • Doug | 15 Jun 2016, 02:19 PM Agree 0
    I've wondered why aren't the fees on credit cards just added to the purchaser's cost? Why should consumers use cards with low fees be paying for consumers using triple rewards cards?
  • Alexis | 15 Jun 2016, 05:58 PM Agree 0
    @Doug Because the law in Canada says that you can't charge extra because the customer is using a different method of payment... Although you can charge less, a discount, for another method of payment. Go figure ;)
  • Murray Schultz | 18 Jun 2016, 03:09 PM Agree 0
    Walmart is not wrong. Interchange fees, combined with Interac fees and direct to customer charges, are huge profit centers for Canada's banks. Of course they depend, to a large degree, on the complacency of Canadian consumers. Glad Walmart stepped in and demonstrated to the banks that the banks are the service providers rather than the other way around.
  • Mark Matsumoto | 19 Jun 2016, 01:11 AM Agree 0
    Your bank is not your friend.
    So many people don't understand this.
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