MasterCard credit cards to be accepted at Sam's Club
MasterCard-branded credit cards will soon become another form of accepted payment at Sam's Club, following an expected announcement shortly from the chain of warehouse-style discount stores. The first-ever acceptance of MasterCard credit card payments by Sam's Club will come at the exclusion of Visa credit cards.
That decision marks a victory for MasterCard in its ongoing struggle with Visa, as the two credit card associations compete for market share. Visa is gearing up to become a publicly traded company, after MasterCard's stock went public this year.
Meanwhile, the announcement by Sam's Club also would represent a major change for the unit of Wal-Mart Stores, with the 589 Sam's Club stores in the U.S., Puerto Rico, and Canada previously only taking credit card payments from Discover Card and its own in-house cards.
Sam's Club takes Visa and MasterCard credit cards for gasoline and online purchases. Customers can also make purchases at Sam's Club locations with cash, checks and both Visa and MasterCard debit cards. American Express credit cards are not accepted.
The decision by Sam's Club to accept MasterCard but not Visa credit card payments is rare since retailers generally do not choose between the two dominant credit card associations. Those stores that want to limit their credit card brand acceptance normally group Visa and MasterCard together, and consider them as a unit against American Express, with its strong reputation but higher merchant fees, and Discover Card, with its narrower acceptance.
The addition of MasterCard may help Sam's Club to draw customers who want to pay by credit card but do not carry Discover Card, at a time when U.S. consumers are paying with plastic more frequently. Sam's Club noted that customers have been requesting that it offer more credit card payment choices.
Additionally, allowing its 47 million customers, who pay annual dues of $35, to pay with a MasterCard could give Sam's Club a much-needed lift as the retailer is losing ground domestically to rival Costco Wholesale. To begin catching up, Sam's Club needs bigger sales, with another payment option likely to support that effort.
Sam’s Club Taking Visa Credit Card Payments from February
An announcement has been made by Wal-Mart Stores Inc. and credit card payment giant Visa confirming that Sam’s Club will accepting Visa credit card payments starting from the beginning of February. Sam’s Club, which is the eighth largest retailer in the United States is part of Wal-Mart Inc. and has more than 650 clubs across America and Puerto Rico. The announcement about the agreement was made by Wal-Mart and Visa last week and everything is set for Sam’s Club to start taking Visa credit card payments from 1st February 2016.
Although Sam’s Club does already accept Visa credit cards at its gas stations in America as well as online, its clubs currently only take payment via Visa debit card or prepayment cards, which is something that limits customers who want to use credit products. In addition to its plans to now accept Visa credit card payments at its clubs it has also been announced that consumers will be able to benefit from using Visa Checkout online with Sam’s Club.
Giving consumers more choice
The move to start accepting Visa credit card payments will enable consumers who are shopping at Sam’s Club locations to benefit from greater ease and convenience when it comes to making payments. An executive from the company, Tracey Brown, stated that Sam’s Club was eager to do more to benefit members, which included providing them with more options when it came to payment methods that would be accepted.
Brown added that the company also wanted to enhance the value of being a member, and this was one of the ways in which it hoped to achieve this goal. She stated that by enabling members to use Visa credit cards from February the company was able to provide them with more choice, more ways to shop, and a greater level of convenience.
An executive from credit card payment company Visa also spoke about the agreement with Sam’s Club. Ramon Martin, who is the senior vice president for merchant solutions at Visa said that the service provider was delighted to be entering into the agreement with Sam’s Club. He added that Visa was keen to ensure that payments were speedy, secure and simple for all cardholders whether they were shopping via the internet or in person. Visa, which is a global service provider, now operates in more than two hundred countries and territories around the world.
What Is The Processing Fee Sam's Club Would Pay For Having Visa As Credit ?
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