Amazon withdraws decision to 'stop handling Visa credit cards issued in the UK because fees are too high'
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In November 2021, Amazon announced that it would stop handling Visa credit cards issued in the United Kingdom from January 19, 2022, but it turned out that this decision was withdrawn shortly before. .. In an email sent to customers, Amazon states that it is working on a potential solution to continue using Visa credit cards.
Amazon's Visa Credit Card UK Ban Revoked, Buyers Can Keep Using Payment Method --Bloomberg
https://www.bloomberg.com/news/articles/2022-01-17/amazon-to-reverse-proposed-uk-ban-on-visa-credit-cards
Amazon to continue accepting Visa credit cards in UK as it bids to resolve payment dispute | Business News | Sky News
https://news.sky.com/story/amazon-drops-date-to-stop-accepting-visa-credit-cards-for-uk-payments-12518264
Amazon reverses decision to ban Visa credit cards in the UK over fees --The Verge
https://www.theverge.com/2022/1/17/22887637/amazon-uk-visa-credit-card-ban-reversed-deal
Amazon UK and Visa make payment friends ... for now | Club386
https://www.club386.com/amazon-uk-and-visa-make-payment-friends-for-now/
When a customer makes a credit card payment, the retailer must pay the card company a transaction fee according to the payment fee. High transaction fees are a headache for many retailers, and Amazon, which operates one of the world's largest e-commerce sites, is no exception.
The EU has capped transaction fees between European Economic Areas, and Amazon's Visa credit card transaction fees have been limited to 0.3%. However, in the UK, which left the EU in 2020, this restriction has been lifted, and retailers are facing higher transaction fees. Since Brexit, Visa has raised credit card transaction fees in the UK to 1.5%, five times higher than before.
In response to this situation, Amazon notified in an email sent to customers in the third week of November 2021 that 'Visa credit cards issued in the United Kingdom will no longer be usable from January 19, 2022.' did. An Amazon spokeswoman said, 'The costs of accepting card payments are an obstacle for companies striving to offer the best prices to their customers. These costs will decline over time as technology advances. It should be, but it's not only expensive, it's still rising, 'he said, claiming that high transaction fees hinder customer service.
Amazon Ends Support for Visa Credit Cards Issued in the UK-GIGAZINE
However, in January 2022, when Visa credit cards were about to be suspended, Amazon told UK customers that the planned change in Visa credit card usage at Amazon.co.uk was January 19. We have withdrawn our Visa credit card suspension by sending an email notifying us that it will not be done.
In an email, Amazon said, 'We are working closely on potential solutions to keep our customers still able to use their Visa credit cards,' but mention specific solutions. I have not. It also states that 'we will notify you in advance of any changes to your Visa credit card', so it seems that the suspension of Visa credit cards has not been completely frozen.
News agency Sky News found that 89% of British consumers are shopping on Amazon, according to a survey conducted by market research firm Mintel, and the exclusion from Amazon is a pain for Visa. Pointed out that it was. Susannah Streeter, senior investment and market analyst at financial services firm Hargreaves Lansdown , said: 'The two companies haven't completely withdrawn, but last weekend's talks seemed to be productive, and Amazon's tone is certainly better. It's becoming more harmonious, 'he said, claiming that the suspension of Visa credit cards at Amazon would be a loss for both parties.
In a statement, Visa said, 'Amazon users will continue to be able to use their Visa credit cards at Amazon.co.uk after January 19th. We will work closely with Amazon to reach an agreement. I will go. '
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