Visa and Amazon have finally reached an official agreement. Visa will remain an option for Amazon customers after the marketplace circled the idea of removing them completely.
Last year it was first announced that Amazon would no longer accept payment from UK-issued Visa Credit cards. Just days before the removal was set to take place Amazon announced the decision was on hold whilst they tried to come to an agreement with the financial service. 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 expressed their disapproval towards Visa applying such high fees as this provided an obstacle for their customers. Now, in an anti-climatic unsurprising, not-twist, Amazon and Visa have come to an agreement.
We’ve recently reached a global agreement with Visa that allows all customers to continue using their Visa credit cards in our stores
– Amazon
By the sounds of the reports, the two companies are now thrilled to be working together after a global agreement was reached. All Amazon stores will now accept Visa and the companies will work to collaborate on future projects together.
This agreement includes the acceptance of Visa at all Amazon stores and sites today, as well as a joint commitment to collaboration on new product and technology initiatives to ensure innovative payment experiences for our customers in the future.
– Visa Spokesperson
One Response
I wonder who blinked first? Is Amazon bigger than Visa? I would like to know what percentage of Amazon’s payments are handled through visa / made by visa cards?