One of the country's largest grocers has reportedly put Visa on notice over its fees, and credit unions and other card issuers should take notice, said one industry pro.
According to reports yesterday in Bloomberg and the Wall Street Journal, Ohio-based grocery giant Kroger said 21 stores and five fuel centers that are part of its Foods Co. Supermarkets subsidiary will stop accepting Visa credit cards starting on August 14. Bloomberg also reported that the parent company, which operates close to 3,000 stores in 35 states, may do the same across the rest of the organization. The company will continue to accept Visa debit cards, according to the Wall Street Journal.
Diana Dykstra, who is president ad CEO of the California and Nevada Credit Union League, said Kroger's move could backfire.
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