Amazon to stop accepting payments using UK-issued Visa credit cards | Business News

Amazon says UK customers will not be able to pay for goods using a Visa credit card from January, blaming a “high cost of payments”.

The online retail powerhouse emailed customers on Wednesday morning to confirm the move would take effect from 19 January and clarified that no other credit cards, or Visa debit cards, would be included in the ban.

It means that Visa credit cards issued outside of the UK will also be exempt.

Amazon declared it had taken the decision, which it admitted was “inconvenient”, due to “high fees Visa charges for processing credit card transactions” on its UK cards.

A spokesperson said: “The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers.

“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 will no longer accept UK-issued Visa credit cards as of 19 January, 2022.”

Visa was yet to give its response.

Its US-listed shares were down by more than 2% in pre-market trading.

Amazon told customers they should update their default payment.

“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”, it said in the email.

Sky News

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