Companies

Kroger Weighs Widening Unit’s Planned Ban On Visa Credit Cards

“The spat is the latest battle over the $90 billion that U.S. merchants pay each year in swipe fees. Major retailers have long looked for ways to cut down on such charges, including by lobbying lawmakers to lower the rates and through technology upgrades that avoid Visa Inc. and Mastercard Inc. entirely. A burgeoning group of financial-technology startups are also attempting to offer cheaper alternatives for merchants. Visa’s rates and fees are among the highest of any credit card brand, Foods Co. said in the statement, adding that savings would be passed to customers, who will still be able to use Visa’s debit cards, as well as cards from Mastercard, Discover Financial Services and American Express Co.”