The parent company of Smith’s Food & Drug has announced that its stores will no longer accept Visa credit cards. It will however continue to accept Visa debit cards after the April 3rd deadline.
Here is part of a statement from Kroger that was released via press release on Friday, March 1st.
"Visa has been misusing its position and charging retailers excessive fees for a long time," stated Mike Schlotman, Kroger's executive vice president and CFO. "They conceal from customers what Visa and its banks charge retailers to accept Visa credit cards. At Smith's, Visa's credit card fees are higher than any other credit card brand that we accept. Visa's excessive fees and unfairness cannot continue to go unchecked. That's why, starting April 3, Smith's will accept all forms of payment except Visa credit cards."
Foods Co. Supermarkets, another Kroger banner operating in California, stopped accepting Visa credit cards in August of 2018. The ban on Visa credit cards currently only affects Foods Co. Supermarkets and Smith's Food & Drug.
"Smith's stores will continue to accept all other forms of payment, including major credit cards such as Mastercard, Discover, and American Express; cash and checks; electronic benefit transfer cards from SNAP and WIC programs; and MasterCard and Visa debit cards both with and without PIN and health savings account cards."