After Ditching Visa, is US Grocery Chain Kroger Courting Bitcoin?

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After Ditching Visa, is US Grocery Chain Kroger Courting Bitcoin?

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Kroger, The United States’ largest supermarket chain by revenue and the second-largest general retailer in the country with 142 supermarkets and 108 fuel center locations, has announced that it is to stop accepting Visa credit card payments next month.

The big question remains, what will replace the credit card, which has been cited as being dropped as a payment option due to “excessive transaction fees”, when Kroger moves forwards with its plan scheduled for April.

Rumors that the supermarket giant might be considering Bitcoin as an alternative payment method have been further fuelled with the news that Morgan Creek Digital partner Anthony Pompliano had already spoken to a Kroger Digital representative regarding adding crypto payments as an alternative to Visa. Pompliano, who is also a popular podcast host, had broadcasted that his team was eager to discuss the potential of Bitcoin being used by Kroger to his 200,000 Twitter followers on 3 March.

The high fees charged by Visa with its 323 million users were the last straw for Kroger’s directors and could prompt other retailers to follow suit and examine alternative methods of payment, breaking the stranglehold that both Visa and Mastercard have on similar retail giants. This could bring Bitcoin into prominence as an alternative method if transactions speeds could be accelerated.

Kroger is ranked 17th on the Fortune 500 rankings of the largest United States corporations by total revenue.

 

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