Wal-Mart sues Visa for $5 billion over card swipe fees

Comments (6)
AlkalineState wrote:

“…accusing the credit and debit card network of excessively high card swipe fees.”

Maybe I’ll sue Exxon for all the gas I overpaid for and didn’t like overpaying for :)

Mar 27, 2014 7:19pm EDT  --  Report as abuse
Kahnie wrote:

What Wal-Mart is saying, that because of VISA, the company (Wal Mart) had to charge higher prices, rather than “eating” part of the fees and making less profit. I have a small business on-line. We accept VISA/MC/Discover. Fees aren’t that bad for the coverage we get. Yes, we are interested in making money, but not greedy. We have greater coverage with Plastic and lower fees than Paypal, the giant eBay company that makes it’s profit off of Paypal and charges high fees on eBay besides. Could the VISA/MC/Discover charge less? Of course. But for Wal-Mart to complain that THEY weren’t making enough so they had to charge the customer more is the height of hubris.

Mar 27, 2014 10:07pm EDT  --  Report as abuse
Swisswatch wrote:

Hey, you think Wally World would simply lower the pay given to their peons? Use a gouge to fight a gouge.

Mar 27, 2014 10:44pm EDT  --  Report as abuse
MalcolmTucker wrote:

Sometimes I wonder if WalMart believes or understands the effects of inflation and overhead costs.

WalMart should stick to running as a retailer, with better quality merchandise. People would pay more if WalMart understood customer service.

Maybe WalMart should fire the cashiers and install Self-Checkout Cash-Only Registers instead of paying wages to employees. This strategy would cover the costs associated with doing business in america.

Mar 28, 2014 8:58pm EDT  --  Report as abuse
rachgr wrote:

Visa, contact me for this. I was a loyal Walmart shopper until they would not take a $.50 coupon. I went across the street to Kings Soopers and they took the coupon and doubled it. I used to spend $200.00 to $300.00 per week at Walmart until that day. I also spoke to a manager and was told they had a new coupon policy, if it does not scan they will not accept it. It scanned no problem at King Soopers. Walmart caused me to stop shopping there NOT VISA. Walmarts policies are the problem. I can find good deals elsewhere.

Mar 28, 2014 10:28pm EDT  --  Report as abuse
VernonDozier wrote:

On February 1, 2014, WalMart appointed a new CEO. The trouble with this is that no one really knows what the new CEO’s company goals are.

My guess, is that the new CEO is like the old CEO featured in the duPont-Columbia Award Winning documentary, featured on CNBC. The board may have influenced the new CEO direction. Look it up, rent or watch it. It’s worth it. It’s titled “Wal-Mart: Inside America’s Most Powerful Company”.

An interesting fact is that WALMART is still majority-owned by the Walton Family. Over 50% of the company’s ownership is owned by heirs of Sam Walton.

So, if WalMart needs additional cash flow to appease its shareholders and wants to challenge Visa this is strange. A company like Visa, a Service Company, moves US$6,900,000,000,000.00 annually. If WalMart is unsatisfied with the agreements it already entered into, it’s able to cancel them.

Still, the question is why challenge Visa’s existing business? WalMart entered into business partnerships by its own accord, and those agreements had to be signed by officers of the company.

It may be time to say WalMart has achieved the crown of efficient US business and US capitalism.

WalMart may have to turn a corner, and grow the business by focusing on quality merchandise people are willing to pay a premium for. WalMart focuses on the lower-class segment.

The unfortunate fact is that this *is* WalMart. Watch the CNBC video. If this legal action was approved by the CEO, it might be worth entertaining the idea the entire board needs to go.

Mar 29, 2014 9:02pm EDT  --  Report as abuse
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