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Wal-Mart Canada to stop accepting Visa cards

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Wal-Mart Stores Inc.'s Canada division will no longer accept Visa cards because of high transaction fees.

The change will start taking place July 18 and roll out in phases at Wal-Mart's 400 stores in Canada.

The company claims it pays more than $100 million in fees annually to accept credit cards in Canada. However, it did not detail how much of that goes to Visa.

Stores will continues to accept MasterCard, Discover and American Express.

Visa spokeswoman Connie Kim said the decision would negatively affect Wal-Mart shoppers in Canada.

Wal-Mart made this business decision despite Visa offering one of the lowest rates available to any merchant in the country," she said. "We are disappointed that Wal-Mart chose to put their own financial interests ahead of their own consumers’ choice."

Read more from USA Today.

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