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Smiths/Kroger expands ban on Visa credit cards
- ethanpil 8y agoI wonder if this is a negotiation tactic to get special reduced rates, or if this is the beginning of a deeper experiment, in which grocers (who run on notoriously low margins) are trying to save 2% per almost every transaction. Supposedly, millennials and later generations are very cash adverse, and these interchange fees are adding up to m(b?)illions for these huge companies...
- tracker1 8y agoConsidering Debit cards still work, I'd expect that a lot of people would just do that. I can't speak for anyone else, but the main reason I use my CC is for the rewards (1-5% depending on location and promotions) and pay it off regularly. If I can't use it at a location, I'll just switch to my debit card. A bigger example of CC lock in is Costco which used to be American Express only, switched to Visa only last year.
- gamblor956 8y agoGood luck with that. I live within walking distance of 3 groceries and I can just walk a block further to the store that accepts my card. Edit: the ban only applies to two of their lower market aka discount grocery chains, do this actually makes sense. Most of those customers don't use credit cards in the first place.