Amazon will stop accepting payment through this credit card due to high transaction fees
London: The customers who have an active subscription to Amazon services and are residing in United Kingdom might face and inconvenience in credit card payment on the platform from 2022. It is so because, tech giant Amazon will stop accepting Visa credit cards in the UK starting from 19th January next year. Amazon is taking this major step due to high credit card transaction fees charged by Visa credit cards in the UK.
According to the BBC, it said the move was due to high credit card transaction fees but said Visa debit cards would still be accepted. Amazon said that the cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers. 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”.
An Amazon spokesperson said the dispute was to do with “pretty egregious” price rises from Visa over a number of years with no additional value to its service. Meanwhile, 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”. It said it had “a long-standing relationship with Amazon” and that it was trying to resolve the situation so customers would be able to use Visa credit cards with Amazon UK.
Amazon declined to say how much Visa charges to process transactions the retailer made on credit cards.
(With inputs for IANS)
Ms Kalinga