Amazon reverses decision to ban Visa credit cards in the UK over fees


Amazon says it will continue to accept payment in the UK from Visa credit cards, reversing a decision to ban the cards that was announced last November and due to kick in this week on Wednesday, January 19th.

In an email to customers, Amazon said it was “working closely on a potential solution that will enable customers to continue using their Visa credit cards on” The company did not say what the solution was or how long it might be in place, but added that “should we make any changes related to Visa credit cards, we will give you advance notice.”

The original decision to ban Visa credit cards on arose from a dispute over payment fees levied by card issuers. The European Union sets limits on these particular fees, but when the UK left the EU it gave issuers free rein to increase them. Visa raised its interchange fees from 0.3 percent to 1.5 percent, which evidently annoyed Amazon.

Although it’s not clear what deal has been brokered between Amazon and Visa and who it favors, it was Visa’s stock that dropped after the ban was initially announced. As per Sky News, Visa said in a statement: “Amazon customers can continue to use Visa cards on after 19 January while we work closely together to reach an agreement.”


Source link

Related articles

Xbox Series X consoles are available for Best Buy’s Totaltech members

The Xbox Series X is sometimes a little easier to buy than Sony’s PlayStation 5, but that doesn’t mean it’s a simple endeavor. The good news is that Best Buy has...

Our Flag Means Death creator David Jenkins fancies a fine narrative fabric

For many people, Our Flag Means Death was an unexpected history lesson about the adventures of Stede Bonnet, the real 18th-century pirate who loved the high seas almost as much as...

How to change your default browser in Windows 11

If you’ve updated your PC from Windows 10 to Windows 11, you may have noticed that when you click on a link for a website, a PDF document, or a variety...

Fortnite’s Zero Build mode is bringing people back to the game

Fortnite’s latest season kicked off a big shakeup: developer Epic Games removed building, perhaps the game’s most iconic feature, from the core battle royale modes. It was a risky move that...

What Elon Musk’s Twitter ‘free speech’ promises miss

Thursday morning, Elon Musk offered to buy Twitter to save free speech. “I invested in Twitter as I believe in its potential to be the platform for free speech around the...

Latest articles