According to reports, Amazon say that they will no longer accept payment from UK issued Visa Credit cards from January 19th 2022 in a move that could push Visa to lower their fees for the platform.
The decision to stop accepting Visa credit cards and create payment limitations seems to be due to high transaction fees. Visa have said in a statement that they are working to resolve the issue of these restrictions being imposed by Amazon. The restrictions will only be implemented for Visa credit cards, customers will still be able to use Visa debit cards and other payment providers.
“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 U.K. without Amazon-imposed restrictions come January 2022.”
– Visa spokesperson
Visa and MasterCard increased their UK-EU interchange fees this year due to the EU fee cap for the UK being removed after Brexit. Amazon have expressed their disapproval towards Visa applying such high fees and Visa are disappointed that the marketplace will be restricting customer choice.
“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.”
– Amazon spokesperson