Amazon to slap ban on UK-issued Visa credit cards.
Amazon.com will stop accepting purchases made with Visa credit cards issued in the UK from next year, the latest attempt by the online giant to push back against transaction fees charged by payment networks.
Amazon users were told of the changes this week.
After making purchases they received a notification from the company saying that from January 19, 2022 “we will no longer accept Visa credit cards issued in the UK” due to the high fees charged to process transactions.
Customers can still use Visa debit cards, MasterCard Inc, American Express Co credit cards and Visa credit cards issued outside of the UK. Users were offered £20 (€23) off their next purchase if they set a debit or non-Visa credit card as their payment default. In Singapore and Australia, Amazon has already imposed a surcharge for use of Visa credit cards.
“We are very disappointed that Amazon is threatening to restrict consumer choice in the future, ” a Visa spokesman said in an email. “We have a long-standing relationship with Amazon, and we continue to work toward a resolution.”
Visa shares slipped in US premarket trading.