Kroger, Amazon, Walmart discussed on KRLD Sunday Morning News


West is dry it is hot in that continues to fuel fires across North Texas including in cedar hill where approaching flames. Almost forced one woman from her home so here's my driveway and just. One two three four steps stopped you, can see exactly where I watered things down where it stopped, fire crews were out monitoring the area looking for flare ups when they noticed the situation and. They were able to, extinguish the flames before they reached her home and others in the area firefighters attributes the problem. To the same extreme heat and windy conditions that are causing. Massive fires across Parker and Denton counties. Well there's a major staredown between one of the big credit card companies and one of the. Biggest grocery stores in America it's all over fees Kroger is making threats against visa KRLD's David Rankin asked Jenny serene Ed Bloomberg do we realized that just using a credit card is going to cost somebody I think that I mean that's. A good way of putting it every. Time you Cyper every time. You pressed buying a website. The merchant actually has to pay the different credit card companies for, the privilege of accepting electron payments and, so we're starting to see more and. More that margins aren't so happy about, that, and, they're they're devising. New and interesting ways of getting around and and lowering those fees. We see this in some cases at gas stations along highways. We'll see a cash price in a credit price is this the same thing a lot of merchants say is that those who use cash. Are actually subsidizing the credit card rewards for the wealthy in high income folks and so you're starting to see. More, and more merchants really try to make that more equitable to the people who pay with cash can get the lower. Prices and the people. Who pay with credit cards my take. A little bit higher fees Always sudden we're seeing a big? Name like Kroger deciding that, it's possible they may not take visa anymore tell me the story behind this yeah that's so Kroger. Has a subsidiary in California called Foods Co. and Foods Co. said that starting in a few weeks. They are no longer going to be accepting visa credit cards and so last week when. I spoke, to executives at Kroger they said that this is you know part of their. Negotiation with these they would like to see lower fees if. They don't start to see those fees come down. There prepared to extend that? Band this isn't the first major grocery store chain to do this either no no WalMart actually two years ago in Canada said the same. Thing they told you said they wanted lower fees and so I actually stopped accepting visa credit cards and some of their Canadian stores as part of their negotiations with with the with the network which side. Is going to blink first on this It's so interesting. Because it's hard to say I. Mean I think it's unfortunate because. Obviously, visa prides itself on being accepted everywhere and Croker you know they don't. Wanna have customers who come in prepared to, pay for groceries with visa card and have to turn them. Away so it's it's honestly you know the the one who, really ended up getting maybe, a little, bit uncomfortably caught in the middle, of the consumer and so you know. Usually when we've seen this negotiations typically progress pretty quickly and WalMart in Canada they now. Accept vs after finishing negotiations we're not sure how much lower if. You, got, but it's definitely an interesting conflict as we do more shopping online especially with Amazon leading the way in, this are we going to start seeing Amazon have issues with credit cards as well it's a good question so Amazon actually I understand in the Amazon is looking at debuting a checking account product Which would basically make it so that you don't even need a credit card. To shop on Amazon, dot com and part of the impetus for that when he's spoken to analysts, about that move is they have an. Opportunity to save about two hundred and fifty million, dollars in fees credit card fees every year with a product like, that so you're already seeing some of that, tension play out in the online world it'll be interesting as ecommerce becomes more? And more important how. That progresses, so, it's very possible that visa may not be everywhere you want to be Still to come on NewsRadio ten eighty KRLD traffic and weather together on, the eighth it's seven fifty five Akina royalty McDonald's one. Two three dollar menu has breakfast which means now you can get your favorites. For one two or three dollars.

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