- Retail giants Kroger Co said that their Smith’s Food & Drug Stores will no longer accept Visa because of high transaction fees.
- Morgan Creek co-founder, Anthony “Pomp” Pompliano, sets up call with the company to discuss lightning network adoption.
Retail giants Kroger Co. said that its Smith’s Food & Drug Stores will no longer accept Visa credit cards, starting April 3. Kroger’s Chief Financial Officer, Mike Schlotman said:
“Visa has been misusing its position and charging retailers excessive fees for a long time. At Smith’s, Visa’s credit card fees are higher than any other credit card brand that we accept.”
Anthony “Pomp” Pompliano, Co-Founder and Partner at Morgan Creek Digital, suggested a crypto alternative, tweeting:
“Grocery store @kroger is stopping acceptance of @Visa in over 250 stores because of network fees. Who knows someone on the leadership team there?
The Morgan Creek Digital team will fly to meet them and get them hooked up with the Lightning Network nationwide.”
A few hours later, Nick Rapier, digital product manager from Kroger Digital, replied:
“Hey Pomp – I’m a Product Manager at Kroger Digital. Can confirm that Yael is the correct person to discuss this with. I would love to set up a conversation.”
Pompliano then shared the following update:
“Just finished up first call with someone on Kroger Digital team. World-class, forward thinking crew. Looks like things are progressing.