Amazon’s UK site backs away from plan to stop taking Visa
Written by ABC AUDIO on January 17, 2022
LONDON (AP) — Amazon’s British website has backed away from plans to stop accepting Visa credit cards issued in the United Kingdom, saying Monday that the move has been put on hold while talks between the two sides continue.
The online retailer said the change would not be implemented as planned on Wednesday. Amazon had announced the move in November, blaming “the high fees Visa charges for processing credit card transactions.”
“We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk,” the retailer said in an email to customers.
Amazon didn’t rule out future action but told customers it would give them “advance notice” of any changes related to the acceptance of Visa credit cards.
Credit card fees have been a growing source of tension between Amazon and Visa. Last year, Amazon started charging customers in Australia and Singapore who use Visa credit cards a 0.5% surcharge.
In any credit card transaction, there are a number of fees involved, such as an “interchange fee” that the shopper’s bank pays to the retailer’s bank and other costs like service and technology charges. It isn’t clear which fee is the focus of the U.K. dispute.
— to www.ctinsider.com
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