Walmart Is Suing Visa
(Bentonville, AR) Walmart is suing credit card company Visa.
The lawsuit was filed Thursday in Arkansas where Walmart is headquartered.
Walmart accuses Visa of conspiring with banks to fix prices on so-called ‘swipe fees.’
Those are the processing fees banks charge retailers every time customers pay with credit or debit cards.
Visa has not commented on the suit.
This comes just two years after Visa, MasterCard and major banks reached a multi-billion-dollar settlement with several retailers in a similar case.
Walmart, Target and Amazon opted out of that settlement.