Press "Enter" to skip to content

Amazon Drops Plan to Ban Visa Credit Cards in the UK

Amazon said on Monday it would not stop accepting UK-issued Visa Inc (V) credit cards on its British website later this month as it had proposed, adding that it was working with Visa to resolve a dispute over payment fees. The company said that they expected  change regarding  Visa credit  cards  would no longer occur on January 19.

They are working  closely  with Visa on a potential solution  that will enable  customers to continue using their Visa credit cards  on (AMZN) said in November it would ban Visa’s card because of the high transaction fees charged by the payment processor.

The company also added that customers could still use Visa’s debit cards, along with Mastercard and Amex credit cards and Eurocard.A Visa spokesperson said on Monday that Amazon customers could continue to use Visa cards after January 19 while we work closely together to reach an agreement.

Visa had said in November it was “very disappointed that Amazon was threatening to restrict consumer choice.”  An EU-enforced cap on fees card issuers is no longer in place in the United Kingdom following Brexit. Amazon and Visa say the dispute is not related to the U.K.’s withdrawal from the EU. The move was interpreted by experts as a way for to get some bargaining power over Visa to lower its fees.

Be First to Comment

Leave a Reply

Your email address will not be published. Required fields are marked *