Amazon won’t accept Visa cards due to high fees.
Online retailer Amazon announced today that starting in January, they will no longer accept payment on their platform with Visa credit cards specifically in the United Kingdom. According to the official statement, the reason for this is high processing fees incurred from Visa every time one of their credit cards is used to make a payment.
“As a result of Visa’s continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK-issued Visa credit cards as of 19 January, 2022,” an Amazon spokesperson said in an emailed statement.
Amazon says it will stop accepting UK-issued Visa credit cards on January 19th https://t.co/1Z6Hne6Foi pic.twitter.com/DmAXprnoH3
— Engadget (@engadget) November 17, 2021
To clarify, this restriction is only on Visa credit cards, not debit cards, and only in the United Kingdom. Customers can still use Visa credit cards elsewhere, as well as Mastercard, Amex, and Eurocard credit cards.
In response to Amazon’s announcement, a Visa spokesperson voiced the company’s disapproval. “Amazon is threatening to restrict consumer choice in the future,” they wrote. “When consumer choice is limited, nobody wins.”
💳Amazon customers will be blocked from using Visa cards in the UK.
❌The dispute relates to transaction fees charged by the credit card brand
Thread 👇https://t.co/tXJeXkmImH pic.twitter.com/2NbujUk1xq
— Telegraph Money (@MoneyTelegraph) November 17, 2021
Visa will be engaging in negotiations with Amazon to ensure that UK-based Visa credit card holders will still be able to use their cards on the platform “without Amazon-imposed restrictions come January 2022.”
Wyoming GOP will No Longer Recognize Liz Cheney
-
Tesla is looking to spark interest in its most expensive models. In the last several months, prominent electric vehicle...
-
Prices dropped in Venezuela, Indonesia, Ecuador, Thailand, and more. Netflix has recently been feeling a major financial squeeze as...
-
The Rochester Regional Joint Board of Workers United filed a formal complaint against Tesla. Earlier this week, a group...
-
Uber is making a comeback from pandemic-era losses. This week, prominent ridesharing company Uber reported their earnings for the...
-
A strong Q4 report and new investments have GM on the right track. This morning, the largest automotive company...
-
The deal is rumored to amount to around $10 billion. This morning, Microsoft announced the latest development in its...
-
Cook’s target pay package will be dropped to $49 million. Tech giant Apple announced today that its CEO, Tim...
-
Even Amazon isn’t immune to the worsening economy. As the global economy remains in the grips of inflation and...
-
Economic woes are affecting the highest echelons of wealth. According to recent statistics released by Forbes, the world’s wealthiest...
-
The bank was fined for “widespread mismanagement” and “illegal activity,” according to the CFPB. Today, financial regulators from the...
-
Store employees are worried layoffs may follow a merger. Recently, two of the largest grocery supermarket chains in the...
-
Despite ongoing concerns, the US job market is moving in the right direction. The United States economy is still...