Wednesday 17 November 2021 10:51 PM UTC
LONDON Nov 17: Amazon has told customers it will stop accepting payments made using Visa credit cards from January 19 next year. The online giant said this was due to the high fees Visa charges for processing these transactions.
In an email to customers, it said: ‘You can still use debit cards (including Visa debit cards) and non-Visa credit cards like Mastercard, Amex, and Eurocard to make purchases.
‘Please update your default payment method now, or add one of these new, eligible payment methods if you do not have one.
‘You can update your Prime membership here, and if you have any subscriptions on Amazon.co.uk, you can update them on the ”manage your subscription” page here.
‘We know this may be inconvenient, and we’re here to help you through this transition so you can continue enjoying Amazon’s low prices and wide selection.
‘Please visit this help page for more information on payment methods, or go directly to your account.’
The company said in a notice in August that it would be applying a 0.5% surcharge to purchases made using Visa credit cards.
In March it emerged that Visa was planning post-Brexit fee increases for UK customers ordering from the European Economic Area.
Visa hiked its interchange fees from mid-October, meaning the fees of 0.20% for debit cards and 0.30% for credit cards was upped to 1.15% and 1.50%, respectively.
The interchange rates for business cards is now 1.60% while corporate and purchasing cards has been revised to 1.80%.
Visa said it was ‘very disappointed that Amazon is threatening to restrict consumer choice in the future’.
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