VISA VS WALMART

By jeronimotrev

  • Wal-Mart and other large retailers sue Visa Inc. and Mastercard International Inc.

    “seeking damages amounting to tens of billions of dollars for alleged violations of Sections One and Two of the Sherman Act, 15 U.S.C.”

  • Wal-Mart wins a settlement of 3 billion dollars with Visa and Mastercard.

  • Over 7 million retailers sue Visa, Mastercard and large banks over excessive card fees.

  • Wal-Mart opts out of a massive lawsuit against Visa and Mastercard, and an antitrust settlement of 7.25 billion dollars in order to seek damages on their own.

  • Wal-Mart sues Visa for at least $5 billion dollars accusing the card network of excessively high card swipe fees.

    They are seeking damages from price fixing and other antitrust violations that they claim took place between January 1, 2004 and November 27, 2012.

  • Wal-Mart wins a settlement of an undisclosed amount.

  • Wal-Mart sued visa accusing the card network of pushing the retailer to use a less-secure method of verifying debit card transaction.

  • Visa is firing back with a lawsuit of it own

    Claiming that the nation's largest retailer is violating its contract setting up payment terminals so that they can only accept the more secure form of validation.

  • Walmart banned Visa as a way of payment in Canadians stores, making the fight public.

    Later on Visa, in a New York State court, the card company claim that Walmart violated it contract with Visa secretly reconfiguring payment terminal to only accept PIN confirmation for transaction even if customer prefer a signature confirmation.