Online behemoth Amazon will stop accepting payments using Visa credit cards issued in the UK from next week.
It’s linked to a row over rising Visa transaction fees, which Amazon says significantly affects its sellers and creates an “obstacle” for small online shops who are trying to keep their prices competitive.
The online retailer said costs should be going down over time due to advances in technology, “but instead they continue to stay high or even rise”.
Visa previously said it was in discussions with Amazon over the changes, adding it was “working toward a resolution.”
However the Mirror now understands that no resolution has been agreed.
That means from January 19, Amazon customers will no longer be able to purchase goods using a Visa credit card that was issued in the UK.
“The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers,” an Amazon spokesman said.
“These costs should be going down over time with technological advancements, but instead they continue to stay high or even rise.
“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.
“Customers can continue to use all debit cards (including Visa debit cards) and other non-Visa credit cards to shop on Amazon.co.uk.”
Visa said in a statement it was “very disappointed that Amazon is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins.”
Customers will still be able to use Visa debit cards, MasterCard and Amex credit cards, and Visa credit cards issued outside of the UK to pay for items when the changes kick in…ReadMore…