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Wal-Mart, MasterCard Agree on Debit Card

June 22, 2004|From Associated Press

Customers of Wal-Mart Stores Inc. can use MasterCard Inc.'s signature debit cards to make purchases for the first time since February, when the world's largest retailer suspended their usage in a disagreement over fees charged to merchants.

Bentonville, Ark.-based Wal-Mart said in December that MasterCard's fees were too high. The move made Wal-Mart the first major retailer to take such action since a lawsuit settlement freed merchants to pick which credit and debit card services to use.

A Wal-Mart spokeswoman declined to say whether MasterCard had lowered its rates to win back Wal-Mart's business.

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