Amazon is one of the largest e-retailers in the world. So any decision made by the company can create a global precedent, for better or worse. Starting next year, the Amazon UK branch will no longer accept Visa credit cards issued in the United Kingdom.
An Unusual Decision By Amazon UK
- Amazon is not happy with the rates Visa charges on credit cards issued in the United Kingdom.
- This process has been ongoing for a while and appears to escalate further.
- The payment fees have to be paid by Amazon, yet the company doesn’t charge their customers for it, it appears.
- Instead, the retailer will no longer accept Visa credit cards issued in the UK.
- This change will go into effect on January 19, 2022, unless both parties can find an amicable solution.
- The change only affects Amazon UK, although that may not remain the case forever.
- Customers using Mastercard and Amex credit cards, Eurocard, or Visa debit cards will not be affected by this decision.
- Visa’s transaction fees have been a hot talking point for some time now.
- In 2019, one of the Kroger units stopped accepting Visa credit cards over high fees.
- It seems as if this problem has only become more prevalent in recent years.
- Visa has yet to comment on the situation or offer a solution to Amazon UK.
- Issues like these pave the way for alternative payment solutions to make an impact.
- That doesn’t mean Amazon UK will embrace cryptocurrencies, but the door may be open to rethinking their current payment lineup.
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