VISA (Symbol-V)

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Profit not Prophet
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Re: VISA (Symbol-V)

Post by Profit not Prophet »

Dog days of summer + with broad? consumer interest x wally world secrecy = speculation. Interesting to see the naked capitalist beasts banging about by the watering hole. (Like your friends not corporations eh.)
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Descartes
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Re: VISA (Symbol-V)

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Lazy Ninja wrote:It's interesting that Walmart hasn't announced any further details of extending the ban yet, but there's not really much information in the article. This kind of stuff is just speculation masked as news:
Now that almost three weeks have passed since the Thunder Bay move, Meredith suspects that Walmart has crunched the numbers and doesn't like the results. "Translated, sales have dropped," he says.

Carleton University business professor Ian Lee agrees. "They got the data back and it was not good," he suggests. And that negative data, concludes Lee, "caused them to rethink and postpone a further rollout."
They indeed were idle speculations: Walmart Canada's Visa ban expands to Manitoba from Thunder Bay
Beginning Oct. 24, shoppers will no longer be able to use their Visa cards to pay for purchases in all 16 stores in the province. The move comes after Walmart began the phasing out process in July, when the retailer banned Visa cards from its three stores in Thunder Bay, Ont.

The move could spread to other Walmart locations in other provinces, a spokesman for Walmart said, without elaborating. The spokesman said Manitoba was selected for this round, because stores in the province are "most ready" to phase out Visa, again without elaborating.
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Peculiar_Investor
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Re: VISA (Symbol-V)

Post by Peculiar_Investor »

Things are going back to normal, Walmart and Visa put an end to their public Canadian feud, cards accepted again in all stores | Financial Post
Financial Post wrote:In a brief statement Thursday afternoon, Walmart said it would allow customers in those regions to once again use Visa cards beginning Friday.

“We have come to an agreement with Visa which allows us to continue offering Visa as a form of payment in our stores,” Alex Roberton, senior director of corporate affairs at Walmart, said in the emailed statement.

Carla Hindman, a spokesperson for Visa, confirmed that Visa cards will be accepted “as a form of payment in all Walmart stores across Canada” as of Friday.
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Hammerer
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Re: VISA (Symbol-V)

Post by Hammerer »

Sounds like Visa tried to resist, but ultimately pushed over, and now everyone knows it. I expect the retailers know that an increasing number of people have multiple cards, so there's no need to accept everything (including issuers' terms).

I've also seen credit card promos in Canada get a lot better over the past few years. I remember when a 1% cash back, no annual fee card, was big news. Not sure if the money is coming from retailers, interest on balances or bank profits.
Profit not Prophet
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Re: VISA (Symbol-V)

Post by Profit not Prophet »

thanks for the iunfo I hadnt seen that yet. This was the last sentence in the story :)

'However, retail and consumer groups have continued to complain that the rates in Canada outstrip those in Australia and parts of Europe'
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