Retail giant Walmart sues credit card partner Capital One in a lawsuit filed in the U.S. District Court of NY

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Walmart spokesperson confirmed that Capital One had failed to live up to the terms and conditions of the agreement

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The events leading to the lawsuit, involves failure on major counts of the terms of the contract between the 2

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Walmart confirms that the bank has failed on multiple instances of regarding timely payment processing

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It also claimed the bank came in below the service standards in the contract for mailing replacement credit cards

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Spokesperson of the bank said the suit is an attempt to renegotiate the economic terms of the partnership

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The issues are immaterial and cured by the pursuant to the terms of the agreement as per Capital One spokesperson

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Since 2018, Capital One has been the exclusive issuer for Walmart’s private- label and co-branded credit card program

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