Woolworths has backed down in a fight over the use of debit-card credit accounts in its supermarkets.
From next week, customers to the supermarket chain and its other outlets such as Big W will be allowed to use credit accounts when paying with their debit cards after Woolworths came to an agreement with Visa and MasterCard.
Previously, Woolworths had made it impossible for customers to use credit accounts on debit cards after a decision by its financial services department not to allow the transactions because of the costs to the supermarket chain.
Credit card companies charge retailers for individual transactions on the debit card credit accounts, but yesterday Woolworths refused to disclose how much the decision would cost the company.
Woolworths estimated it had been losing thousands of customers because the debit card facility was not able to be used as it was intended by the credit card companies.
"From 7th September, Visa and MasterCard debit cardholders will be able to choose the 'credit' option at the register when shopping at stores including the Woolworths supermarkets chain, Big W, Safeway, BWS, Dan Murphys, Dick Smith, Thomas Dux and Caltex Woolworths petrol outlets," Woolworths said in a statement yesterday.
"We recognise that some customers were inconvenienced by not having the option to press 'credit' when using their Visa or MasterCard debit card.
"We are very pleased that all our customers will now be able to pay the way they want when shopping with us," the company said.
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