Amazon set to ban Visa credit cards
Amazon today said it would stop taking card payments from Visa credit cards issued in the UK, citing the high cost imposed by the card company.
Amazon today said it would stop taking card payments from Visa credit cards issued in the UK, citing the high cost imposed by the card company.
An email to customers said: “Starting 19 January 2022, 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.”
Customers were advised to update their payment options.
Amazon said: “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.”
The move comes after Visa increased fees last month. The Financial Times reported earlier this year that Visa would raise fees charged on transactions between the UK and EU from 0.3% to 1.5% from October. Amazon.co.uk is operating by the company’s Luxembourg business, its European headquarters.
