A PYMNTS Company

US: Wal-Mart sues Visa over transactions

By  |  May 10, 2016

Wal-Mart is suing VISA, charging the payment network is not allowing the retail giant to let customers verify chip-enabled debit card transactions with what it believes is a more secure method: personal identification numbers.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    In a suit filed in New York State courts Tuesday, the Bentonville, Arkansas-based discounter says Visa is forcing the retailer to allow customers to use a signature when they use the chip-based debit cards.

    Wal-Mart Stores Inc. says in an email statement to The Associated Press the suit is about “protecting our customers’ bank accounts” when they use their debit cards at the store.

    It’s also more costly. Wal-Mart pays about 5 cents more to Visa for each signature transaction than it does for the so-called PIN transactions.

    Full Content: The Wall Street Journal

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.