Amazon To Halt Visa Payment Cards in the United Kingdom

Amazon To Halt Visa Payment Cards in the United Kingdom

Amazon has announced that starting January 19th, it would no longer accept Visa credit cards issued in the United Kingdom.

It cited hefty credit card transaction fees as the reason for the change but said Visa debit cards would still be accepted.

Visa expressed its dissatisfaction with Amazon’s promise to limit consumer choice in the future.

“The expense of accepting card payments remains a hurdle for businesses aiming to give the best pricing for customers,” Amazon stated.

Costs should be decreasing over time owing to technological advancements, according to the online store, “but instead they continue to stay high or even climb.”

The argument, according to an Amazon spokesperson, stems from Visa’s “quite egregious” price increases over several years with no added value to its service.

Visa in a statement stated that it was “very disappointing that the company is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins.”

The payment company stated that it had “a long-standing relationship with Amazon” and that it was trying to resolve the situation so customers would be able to use Visa credit cards with Amazon UK.

The Author

Oladotun Olayemi

Dotun is a financial enthusiast who specializes in first-in-class financial content, including crypto, blockchain, market, and business, to educate and inform readers.