Walmart Joins Ranks of Merchants Disappointed With Swipe Fee Settlement

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Walmart said in a prepared statement that it, “along with a growing number of consumer groups and merchants, is disappointed in the proposed credit card interchange fee settlement.” 

The company claims that the settlement does nothing to change what it calls a “broken market;” forces merchants to waive valuable legal rights; and does nothing to prohibit networks from raising interchange fees in the future.

“We encourage all merchants to put consumers first and reject the settlement,” the company writes.

Read the original statement from Walmart here.