Wal-Mart Equips All Northeast Stores for NYCE Debit

By Kingson Bloom, Jennifer | American Banker, December 18, 1997 | Go to article overview
Save to active project

Wal-Mart Equips All Northeast Stores for NYCE Debit


Kingson Bloom, Jennifer, American Banker


Wal-Mart Stores Inc. has widened its embrace of on-line debit, equipping more stores to accept NYCE Corp. automated teller machine cards.

Wal-Mart, the nation's leading retailer, has accepted NYCE and other on- line debit cards for years at certain stores but until recently had not done so in NYCE's primary markets in the Northeast. This month, it equipped 150 more stores with the necessary pinpads, bringing the number of Wal- Marts with on-line debit capabilities to 1,425, according to NYCE.

"We have equipped all of our stores in their market to accept NYCE, which will certainly promote their card more," said Kathy Schimmel, manager of financial operations for the Bentonville, Ark., retailer.

Promoting on-line debit is a priority for Wal-Mart, which in 1996 challenged in a lawsuit the debit card pricing policies of Visa U.S.A. and MasterCard International. The suit became a class action, with The Limited Inc., Sears, Roebuck and Co., and Burlington Coat Factory Warehouse Corp., among others, agreeing with Wal-Mart that they should have some discretion to refuse the off-line debit products Visa Check and MasterMoney.

While the card associations' rules require equal treatment and acceptance of off-line debit and standard credit cards, the retailers complained that they were being squeezed by the high interchange fees on off-line debit transactions.

Lloyd Constantine, a lawyer representing Wal-Mart, called the NYCE announcement "an indication that Wal-Mart is going to increase its emphasis" on on-line debit as it pursues its lawsuit.

The litigation is now in a "very heavy discovery phase," and no court dates are scheduled for a while, said Mr.

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
Loading One moment ...
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited article

Wal-Mart Equips All Northeast Stores for NYCE Debit
Settings

Settings

Typeface
Text size Smaller Larger
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

While we understand printed pages are helpful to our users, this limitation is necessary to help protect our publishers' copyrighted material and prevent its unlawful distribution. We are sorry for any inconvenience.
Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.

Are you sure you want to delete this highlight?