US Retail Giant Kroger Is Looking Into Bitcoin’s Lightning Network Integration

One of the largest supermarket chains in the United States-Kroger is in our crypto news today after it banned Visa in its food chain Smith’s Food and drug stores because of the high fees of the payment provider.

It has been only a day since Kroger stopped accepting Visa credit cards in about 130 stores across seven states including Nevada, Utah, Idaho, Montana and Arizona and now about 20,000 employees are fearing they might lose their jobs.

The main reason for this is the high fees Visa charges for every transaction. The CFO Of Kroger Mike Schlotman announced:

“Visa has been misusing its position and charging retailers excessive fees for a long time, At Smith’s, Visa’s credit card fees are higher than any other credit card brand that we accept.”

Now, the company is looking into other options in order to reduce the costs. Popular Bitcoin proponent Anthony Pompliano reached out to Kroger to show them an opportunity with Bitcoin’s lightning network as a great alternative. Kroger stated that they are willing to discuss with Pompliano.

Kroger is one of the largest supermarket chains in the world with revenue of $120 billion last year. Bitcoin’s lightning network is challenging for many and has a long way to mainstream adoption but it can help Kroger to reduce costs.

Visa, on the other hand, responded to the developments:

 “Cardholders are our first priority. Our goal is to ensure that every cardholder can use their Visa card wherever they wish to shop. When consumer choice is limited nobody wins. The Visa network delivers significant value for merchants including access to more customers, increased sales, security and fraud protection, a quick and convenient checkout experience, and ongoing innovation and implementation of the latest technologies. Kroger enjoys all of these benefits, and there is a cost for these services, like any other.”