The Kroger Company announced Friday that beginning April 3rd, its Smith’s Food & Drug Stores division will be the company’s second banner to stop accepting Visa credit cards as a form of payment. Smith’s will continue to accept all other forms of payment including Mastercard, Discover, and American Express; electronic benefit transfer cards from SNAP and WIC programs; MasterCard and Visa debit cards both with and without PIN; health savings account cards and of course cash and checks. Kroger explains that the excessive interchange and network fees that Visa and its issuing banks charge to retailers drive up food prices for their customers. Visa’s fees are the highest of any credit cards accepted in Smith’s, and they exceed grocery store margins in the highly competitive food retail industry. Stores effected by this ban include Smith’s Foods in Idaho, Montana and Wyoming.Smith’s Division President says in order to help customers through the transition, the store will offer double rewards points towards fuel purchases and other promotions to save on groceries.
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