OKLAHOMA CITY (KFOR) – Supermarket chain, WinCo has announced it will stop accepting credit cards as a form of payment, starting August 1.
WinCo officials say this is in an effort to keep the store prices down.
“At WinCo, our goal is to offer the same quality products other stores offer, but at overall combined lower prices. There are many different strategies and features that help us accomplish this; and eliminating credit card fees is one of them,” said WinCo via Facebook post.
According to WinCo, credit card transaction rates are “drastically higher” than the rates for debit cards.
Instead of continuing to absorb that increasing cost or pushing that increase onto in-store prices, WinCo is stopping the practice altogether.
WinCo says cash, debit cards, check, EBT, WIC and WinCo gift cards will continue to be acceptable forms of payment.