Amazon will no longer be accepting visa credit card as a method of payment on their platforms because the processing fees from visa are too high.
Amazon has told customers in the United Kingdom it’s going to stop accepting payments made using visa credit cards from next year. The company sent an email to customers saying the change would affect visa credit cards issued in the UK from 19th Jan and it sets up a clash between two giant global corporations. In a statement amazon said starting the 19th of January 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.
Customers can still use Visa debit cards, Mastercard and Amex credit cards, and Eurocard, in the UK. Visa responded to the announcement saying we are very disappointed that Amazon is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins. We have a long standing relationship with amazon and we continue to work towards a resolution so card holders can use their preferred visa credit cards at Amazon UK without amazon imposed restrictions come January 2022 .
Earlier Shares of visa closed 4.7 percent lower after Amazon said it would stop taking payments from visa credit cards in the United Kingdom from Jan 19,2022