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Even .5% at Wal-Mart scale is a lot. Regardless, it's a bad enough situation that in March Wal-Mart withdrew from a $7.5 billion settlement to continue its own
by thaumaturgy 12y ago
Even .5% at Wal-Mart scale is a lot. Regardless, it's a bad enough situation that in March Wal-Mart withdrew from a $7.5 billion settlement to continue its own lawsuit against Visa et al: http://www.bloomberg.com/news/2014-03-27/wal-mart-sues-visa-claiming-card-transaction-fee-fixing.html http://www.bloomberg.com/news/2014-03-27/wal-mart-sues-visa-...
I found a few other articles that support the guess that the big retailers are in the middle of an all-out war with their credit card processors (e.g. http://www.csmonitor.com/Business/new-economy/2011/0413/Credit-card-swipe-fees-US-firms-pay-too-much-and-it-hurts-consumers http://www.csmonitor.com/Business/new-economy/2011/0413/Cred..., http://www.forbes.com/sites/danielfisher/2012/07/24/wal-marts-swipe-fees-are-a-political-weapon-against-visa/ http://www.forbes.com/sites/danielfisher/2012/07/24/wal-mart...), so now CurrentC and the rejection of Apple Pay makes a little more sense. I didn't get it before.