Amazon bans Visa cards in UK, stepping up battle with payments giant | Malay Mail

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LONDON, Nov 18 — Amazon.com will stop accepting Visa credit cards issued in the United Kingdom from next year because of high transaction fees, the e-commerce giant said on Wednesday, escalating its fight with the credit card company. Separately, Bloomberg reported that Amazon was looking to move...

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LONDON, Nov 18 — Amazon.com will stop accepting Visa credit cards issued in the United Kingdom from next year because of high transaction fees, the e-commerce giant said on Wednesday, escalating its fight with the credit card company.

Amazon said the UK decision take will take effect on Jan. 19, 2022. In a statement, it said such charges should be “going down over time with technological advancements, but instead they continue to stay high or even rise.” The move marks an “important turning point in the payments industry,” said Laura Hoy, equity analyst at Hargreaves Lansdown, adding Amazon may hope to drive more customers to its own payments system.

Walmart Inc’s unit in Canada, for example, said in 2016 it would stop accepting Visa credit cards after being unable to reach an agreement on fees. Seven months later the companies said they had settled the matter after about 20 stores stopped taking Visa cards. “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,” Visa added.Amazon did not immediately respond to a request for comment on the report it may switch its co-branded credit card to Mastercard.

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