BOSTON — Confirming reports circulating last week in the financial services industry, Wal-Mart said Wednesday it will no longer take signature-based transactions on MasterCard debit cards, effective Feb. 1. The decision comes after Visa and MasterCard settled a $3 billion class action lawsuit over processing fees in April.
The suit, brought by Wal-Mart, Sears and other major retailers, successfully argued that credit card associations’ “honor all cards” rules unfairly burdened them with processing costs.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)