Consumer Payment Card News

MC & Wal-Mart

MasterCard and Wal-Mart have hammered out a new agreement, enabling Wal-Mart customers to resume using MasterCard signature debit cards at all store locations, effective immediately. In December, Wal-Mart announced it would end acceptance of MasterCard signature debit cards effective February 1st, but would continue to accept VISA signature cards. MasterCard signature debit cards account for less than 1% of Wal-Mart transactions. After reaching a settlement last year in the retailers’ litigation, which reduced signature debit card interchange by more than 30%, Wal-Mart sought an additional discount from VISA and MasterCard. VISA promptly reached an agreement with Wal-Mart, MasterCard did not. During the first quarter VISA handled $123.4 billion in off-line debit card volume, compared to $30.8 billion for MasterCard, according to CardData (“www.carddata.com”:www.carddata.com).

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