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Amazon not to ban Visa credit cards in UK over 'interchange' fees

Amazon has reversed its earlier decision to ban Visa credit cards over fee issues from January 19.

Topics
Amazon | Visa Inc | UK

IANS 

US Visa

San Francisco, Jan 18 (IANS has reversed its earlier decision to ban Visa credit cards over fee issues from January 19.

The e-commerce giant told customers in an email that it was "working closely on a potential solution that will enable customers to continue using their Visa credit cards on .co.."

The company added that "should we make any changes related to Visa credit cards, we will give you advance notice."

According to The Verge, the original decision to ban Visa credit cards on .co. arose from a dispute over payment fees levied by card issuers.

"The European Union sets limits on these particular fees, but when the 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," the report said late on Monday.

Visa said in a statement that "Amazon customers can continue to use Visa cards on Amazon.co.uk after 19 January while we work closely together to reach an agreement."

In November last year, Amazon had said to stop accepting payments from Visa credit cards issued in the UK from January 19th, 2022.

Amazon aimed to block UK credit cards from Visa as part of an ongoing battle over "interchange" fees.

--IANS

na/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Tue, January 18 2022. 12:08 IST
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