Analysis: Amazon vs Visa – as tensions rise, how will the UK retail sector be affected?
In mid-November Amazon revealed its intentions to swiftly pivot away from accepting UK-issued Visa credit cards. What does this notable shift mean for the retail industry?
The tech titan blamed Visa’s high fees for its decision to no longer accept payments on its site using UK-issued cards from the provider.
Amazon said: “Starting January 19, 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.”
Amazon urged users to update their payment information, even offering impacted customers £20 off their next purchase using an alternative method of payment.
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