Amazon to Stop Accepting Visa Credit Cards in UK
November 17 2021 - 7:59AM
Dow Jones News
By Margot Patrick
Amazon.com Inc. said it will stop accepting Visa Inc. credit
cards in the U.K. because of high charges by Visa, in a spat
highlighting continuing tensions between retailers and payment
processors over fees.
Amazon told customers it won't take credit cards issued by Visa
in the U.K. as of Jan. 19, "due to the high fees Visa charges for
processing credit card transactions." A spokesman said card payment
costs keep customers from getting better prices and that those
costs shouldn't be staying high or rising even as technology
improves.
Visa said it is trying to resolve the situation so that the
customers could keep using their credit cards after the January
deadline "without Amazon-imposed restrictions." It said it was
disappointed customer choice was under threat.
Amazon is offering some affected customers £20 off a purchase to
encourage them to update their payment method to another type of
credit card or a Visa debit card.
Write to Margot Patrick at margot.patrick@wsj.com
(END) Dow Jones Newswires
November 17, 2021 07:44 ET (12:44 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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