Wal-Mart Sues VISA for $5 Billion Over...(Guess What?)

[murraypaul]

Well Wal-Mart isn't it time you started accepting Bitcoin?

i think it would make walmart more money because it would cut down on processing fees. i think walmart really should consider bitcoin as a payment method in the future

It would make far, far, less money, because people would only be able to spend money they actually had right then, not buy on credit.
That would reduce WalMart's profits far more than the couple of percent they pay to Visa.

[retrend]

I'd be surprised if Walmart pay above 1% to Visa.  Not many bitcoin alternatives at that price yet is there?

[vnvizow]

Either Amazon or Ebay accepts Bitcoin or someone creates another site like Bitmit, I really want to buy stuff with Bitcoins again

[igorr]

Wal-Mart [WMT (NYSE)] has just filed a massive $5 billion lawsuit against VISA [V (NYSE)] over card processing fees..!!

It's all over the place in mainstream media:

http://www.reuters.com/article/2014/03/27/us-walmart-visa-lawsuit-idUSBREA2Q2BJ20140327

http://money.cnn.com/2014/03/28/news/companies/walmart-visa-suit/

http://www.bbc.com/news/business-26780821

http://www.bloomberg.com/news/2014-03-27/wal-mart-sues-visa-claiming-card-transaction-fee-fixing.html

Is this the Beginning of the End for conventional payment processors like VISA & MASTERCARD (and Rise of the Bitcoin)?

Do you know for Chinese pay procesor Union Pay ?

[bythesea]

Wait, what? They are suing them because of high fees? And that is done by a company that's selling overpriced items? only in USA...

[Patel]

AmEx already joined coinbase with their child company (square)

[Arksun]

None of the above.

Bank bail ins in a country that people have heard of (no offense talking about the masses here) that can't be swept under the rug.
(aka not Cyprus, but Spain Germany or France)

People never heard of Cyprus!?!?, where are these masses you speak of, the 'MURICA bible belt?

[EndTheFed321]

the inevitable fiat-implosion

[grifferz]

Credit card company's wont admit it but they fear Bitcoin.
That's why it's so difficult to buy Bitcoins with a credit card.

This is simply not true.  Visa hates dildos, bongs, pornography and bullets but you can buy those things with Visa.  Visa doesn't go around deciding who can use their system based upon their love/hate for a product.  If it is legal to sell, and sometimes even illegal, Visa is going to let you use the system so long as they get their cut.  Its just business.

It was legal to donate to Wikileaks when Visa stopped processing the payments.

I do agree though that it's more likely to be the rate of chargebacks that prevent most purchasing of bitcoins with credit cards.