Amazon has announced that next year it will no longer accept Visa credit cards as a form of payment on its e-commerce platform in the UK.
The online giant said that the move was due to Visa’s “high costs.”
The company will stop accepting UK-issued Visa credit cards from 19 January 2022.
“The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers,” said a spokesperson from Amazon. “These costs should be going down over time with technological advancements, but instead they continue to stay high or even rise.”
They added: “As a result of Visa’s continued high cost of payments, we regret that Amazon.co.uk will no longer accept UK-issued Visa credit cards as of 19 January, 2022.”
The company assured customers that they will be able to continue using all debit cards, including Visa debit cards, as well as other non-Visa credit cards.
“We are very disappointed that Amazon is threatening to restrict consumer choice in the future,” said a Visa spokesperson. “When consumer choice is limited, nobody wins. We have a long-standing relationship with Amazon, and we continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022. “
Latest News
-
British financial sector optimism falls at fastest rate since 2022 amid Budget concerns
-
TransUnion to buy Monevo
-
Global banks to axe 200,000 jobs by 2030 as AI takes over human tasks, finds Bloomberg
-
Lloyd's of London chief executive officer Neal to step down in 2025
-
JPMorgan becomes final major Wall Street bank to exit climate alliance
-
Visa and Qashio partner on B2B travel payments solution
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
Legacy isn’t the enemy: what FSIs can do to keep their systems up and running
In this webinar we will examine some of the steps FSIs have already taken to rigorously monitor and test systems – both manually and with AI-powered automation – while satisfying the concerns of regulators and customers.
Optimising digital banking: Unifying communications for seamless CX
In the digital age, financial institutions risk falling behind their rivals if they fail to unite fragmented communications ecosystems to deliver seamless, personalised customer experiences.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories