(qlmbusinessnews.com via bbc.co.uk – – Wed, 17th Nov 2021) London, Uk – –
Amazon will stop accepting Visa credit cards in the UK from 19 January, the online retail giant has told customers.
It said the move was due to high credit card transaction fees but said Visa debit cards would still be accepted.
Visa said it was “very disappointed that Amazon is threatening to restrict consumer choice in the future”.
Amazon said: “The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers.”
The online giant said those costs should be going down over time due to advances in technology, “but instead they continue to stay high or even rise”.
In an email to UK customers, Amazon said: “Starting 19 January, 2022, we will unfortunately no longer accept Visa credit cards issued in the UK, due to the high fees Visa charges for processing credit card transactions.
“You can still use debit cards (including Visa debit cards) and non-Visa credit cards like Mastercard, Amex, and Eurocard to make purchases.”
Amazon also asked customers to update payment methods, including for Prime membership and any subscriptions.
“We know this may be inconvenient, and we're here to help you through this transition,” it added.
A Visa spokesperson said: “UK shoppers can use their Visa debit and credit cards at Amazon UK today and throughout the holiday season.
“We are very disappointed that Amazon is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins.
“We have a long-standing relationship with Amazon, and we continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022.”