According to users of Amazon from the UK, the firm has plans to stop accepting payments made with UK-issue Visa Credit Cards in January. In an email to users, Amazon blamed the cost of processing the payments. Telling them, ‘’ starting 19 January 20211, 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.’’
The retailer said that it would be ‘’inconvenient’’ for some customers. Meanwhile, it will continue to accept Visa Credit cards and other Cards including MasterCard and American Express. Amazon’s move is not for one particular reason. Rather it includes interchange fees and other transaction charges that led the firm to make this decision.
A spokesperson for the retailer said in a statement, ‘’ the cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers. These costs should be going down over time, with technological advancements, But, Instead, they continue to stay high or even rise.
‘’ As a result of Visa’s continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK issue Visa Cards as of 19 January 2022. ‘’
Visa Response
Responding to Amazon’s decision, Visa said that it was ‘’ very disappointing that Amazon is threatening to restrict consumer choice in the future.’’
It added, ‘’ when consumer choice is limited, nobody wins. We have a longstanding 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.’’
Additionally, UK shoppers could continue to use their Credit cards at Amazon ‘’’ throughout the holiday season.’’
Experts are hopeful that both Visa and Amazon work out their difference-making it convenient for the users. Also suggested users check their cards widely for now.