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 on.co.uk 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 Amazon.co.uk. (AMZN) said in November it would ban Visa’s card because of the high transaction fees charged by the payment processor.
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.
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