AmEx will no longer be the only credit card accepted at Costco Wholesale Corp. stores across Canada, starting January 1. Costco and American Express Co. have ended their relationship following a meeting to do with negotiations, Bloomberg reports. Costco stores will now accept MasterCard and Costco members with AmEx cards will be able to use it in stores until the end of December. The change will take place exclusively at Canadian Costco stores.
“The terms of the contract were up, AmEx and Costco entered into negotiations and were unable to come to terms,” David Barnes, a spokesman for AmEx Canada, told Bloomberg. In a statement, MasterCard Canada president Betty DeVita said that MasterCard is excited about the collaboration with Costco and the opportunities to increase membership, offer more value and better benefits for Costco members. CJ