Kroger announced Friday that its Smith’s Food & Drug stores will stop accepting Visa credit cards, beginning April 3.
“Visa has been misusing its position and charging retailers excessive fees for a long time,” Mike Schlotman, Kroger’s executive vice president and CFO, stated in a press release. “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.”
Kroger states it will continue to accept all of its other forms of payment, including Visa debit cards with or without PIN input.
Logan has two Smith’s locations: Smith’s Food and Drug at 442 N. 175 East, and Smith’s Marketplace at 750 N. Main. The change will apply to both, according to a Kroger spokesperson.
Smith’s has 55 stores in Utah; 45 stores in Nevada, 23 stores in New Mexico, 7 stores in Wyoming, and 4 stores each in Idaho, Montana and Northern Arizona.
“Grocery is a competitive business and our ability to keep prices low for our customers depends on controlling costs,” stated Kenny Kimball, president of Smith’s, in the release.