Amazon halts plan to ban Visa credit cards in UK

Amazon has halted plans to ban customers from using UK-issued Visa credit cards from this week, as the companies are looking for a “potential solution” to a dispute that threatens to upset shoppers. severely disrupted.

The world’s largest online retailer announced plans to ban it in November, citing “high Visa fees for processing credit card transactions”. At the time, Amazon wrote to several UK customers, advising them to switch to a different payment method.

However, on Monday, Amazon said “the expected change regarding the use of Visa credit cards on will no longer take place on January 19”. The team added that it was “working closely with Visa on a potential solution that would allow customers to continue using their Visa credit cards on the Internet.”“.

Payments firms got rid of EU limits on cross-border exchange fees when the UK left the bloc in 2020. In October 2021, Visa began charging 1.5% of the transaction value for for credit card payments made online or by phone between the UK and the European Union. , and 1.15% for debit card transactions, up from 0.3% and 0.2% respectively.

In November, Amazon said Brexit was not the specific cause of the dispute, instead blaming Visa fees in the long run.

“Amazon customers can continue to use Visa cards on after January 19 while we work closely together to reach an agreement,” Visa said in a statement Monday.

Amazon has been exploring a number of alternative payment methods beyond traditional credit cards. Last August, they announced a “buy now, pay later” option for US customers through third-party provider Affirm. In December, Barclays and Amazon unveiled a BNPL option called Installment for purchases over £100.

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