NEW YORK : Visa expects to resolve its credit card fee dispute with Amazon.com Inc in Britain and hopes to continue its co-branded credit card partnership with the e-commerce giant in the United States, its Chief Financial Officer told Reuters.
Shares in Visa pared losses after Reuters reported Prabhu's comments, moving from 1.4per cent lower on the day to 0.5per cent lower. The shares then gave back those gains and were last trading down 1.4per cent. 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.
In recent months, Amazon has also introduced surcharges on customers using Visa credit cards in Singapore and Australia, citing high fees, as the relationship between the two companies appeared to deteriorate.
Source: Loan Digest (loandigest.net)