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Post was not sent - check your email addresses! ), ShopRite (Note: ShopRite is a collective of independently-owned stores, so policies may vary by store. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply. If you've been to a Costco, you know they only take Visa. Generally, though, Visa is not the one they choose not to accept. 117 Places Listed, The List of Places That Accept American Express, Department Stores, Apparel Shops, Discount Stores, and Wholesale Clubs, Places That Don’t Accept American Express, The Comenity Bank Store Credit Cards List (Incentives, Terms, etc Shown), The List of Soft Pull Credit Cards (Including Store Credit Cards), Different Types of Credit Cards (Balance Transfer, Rewards, etc) Explained, 16 Low Credit Line Credit Cards to Choose From (Well Under $500), 7 Low Income Credit Cards Listed (With Fees, Rewards, etc Shown), How to Transfer Money From a Credit Card to a Bank Account, How to Get a Credit Card Limit Increase Without Asking, What Is a Good Credit Score? When did organ music become associated with baseball? Answered, Where Is Discover Card Accepted? It is also worth noting that American Express gift cards are usually accepted everywhere that American Express credit cards are accepted. But that doesn't mean they have pricing power to the moon. Check out the latest earnings call transcript for Kroger. If Kroger had a theme song for the company right now, I can't help but think it would probably be something like Twisted Sister's "We're Not Gonna Take It." Certainly something for investors to keep an eye on. Generally, they charge lower fees than some of the other ones. ), Credit Cards for Gas Purchases Only? ), Supervalu/UNFI (Note: Supervalu/UNFI is a collective of independently-owned stores; policies may vary by store. Stock Advisor launched in February of 2002. Returns as of 11/05/2020. Hopefully this will soon change. Some merchants choose to not accept cards that charge higher swipe fees than others, like American Express. How strong is the competitive advantage for companies like Visa and Mastercard and even American Express as a lot of these newfangled payments providers try to get in there and really disrupt the model? Frankel: They will. It will probably be some time before Amex rates match levels of other major cards. While the notion that American Express swipe fees are significantly higher than other credit card companies' swipe fees may be a bit of a myth, the fact is American Express has a lower acceptance rate than other card networks. The point being that, over the next few years, you could see increased pressure on Visa from those other two as well. Why don't libraries smell like bookstores? They can only raise those prices so far, so it becomes imperative that they maximize the number of those transactions. Sorry, your blog cannot share posts by email. We talk a lot about it, they have these admirable competitive positions, owning the rails, essentially, Mastercard and Visa. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Is Kroger Not Accepting Visa in Some Stores? Change in Amex’s rates has been slow to fall historically, though they have been falling. Frankel: AmEx and Discover have actually made a big effort to lower their fees and reduce the nonacceptance. Does Kroger accepts American express card? At some point or another, it's going to be pulled back either by merchants complaining about it and doing what Kroger is trying to do here, or, as we've seen before with regulations, you'll have folks in D.C. who want to get in there and try to regulate the industry a little bit, which is understandable as well. ), British Telecommunications companies based in the UK, such as BT Communications and Virgin Media. yes this is the correct answer. You may want to contact that store again to verify, as the Sears’ website shows that they continue to accept American Express as a form of payment. Moser: I think we're in the face of both Mastercard and Visa getting ready to pass through a little bit of a price increase there, as interchange fees are going to be going up for a lot of their merchant customers. What is the time signature of the song Atin Cu Pung Singsing? That's why you hear the dreaded "we don't accept American Express" pretty often still. They justify it for a number of different reasons. It's not all of Kroger, but some of their own brands. Let's conquer your financial goals together...faster. Generally speaking, when a retailer decides not to accept a certain type of credit card because of high interchange fees, American Express (NYSE:AXP) or Discover (NYSE:DFS) are … You have to have a lot of it, too, if you want to buy something there, because prices are so expensive. Does Jerry Seinfeld have Parkinson's disease? Speaking in line with maximizing that number of transactions, we see more and more places going to cashless transactions, going to only cards. However, in a surprise move, some Kroger-owned (NYSE:KR) stores are no longer accepting Visa (NYSE:V) for that exact reason. It is also worth noting that American Express gift cards are usually accepted everywhere that American Express credit cards are accepted. There are a number of reasons why it could probably work out. Kroger stores sell a variety of grocery products that can be purchased with an EBT card. It's also worth noting that merchants, especially big ones like Kroger, really do have a lot of negotiating power. As it stands, Kroger seems like they're standing up to Visa and saying, "Look, at some point or another, somebody's going to have to start pushing back.". How long will the footprints on the moon last? In this case, Kroger feels that Visa's fees that they're charging them are a little bit too high and are not accepting Visa anymore at some of their owned brands. In this segment from Industry Focus: Financials, host Jason Moser and Fool.com contributor Matt Frankel, CFP, discuss the news and what investors should watch going forward. ©2013 - 2020 More Holdings LLC | All Rights Reserved. when you go to your bill click on the store and it'll tell you the type, if it said grocery, you got the cash back.
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