Walmart expands payment partnership

As the battle between Walmart Canada and Visa over interchange rates rages on, Walmart Stores is making more strategic moves with Chase. 

 

Walmart will now process credit and debit payments on ChaseNet, the bank's closed-loop network, across its 5,000-plus Walmart and Sam’s Club locations in the United States, and on the Sam’s Club e-commerce site. Chase already processes payments for Walmart’s e-commerce channel.

 

Through the partnership, Walmart will have guaranteed, fixed-rate pricing for Chase Visa credit and debit payments processed during the term of the contract. The retailer declined to share the contract’s timeframe.

 

“Engaging Chase with a direct processing relationship has been a priority for Walmart for some time,” said Mike Cook, Walmart’s SVP and assistant treasurer. “Walmart is always looking for innovative ways to improve the payment experience, and save time and money for our customers, while also creating competition in the payments industry.”