Amazon to Stop Accepting Visa Credit Cards

Nov 17, 2021

Amazon to Stop Accepting Visa Credit Cards

Beginning next year, Amazon will no longer accept payments made using Visa credit cards issued in the United Kingdom.

Due to the exorbitant costs Visa charges for processing credit card transactions, the e-commerce behemoth has informed certain customers that starting Jan. 19, it would no longer accept Visa credit cards issued in the United Kingdom.

In premarket trade in the United States, Visa shares slid 2.5 percent.

Visa raised the interchange fees it charges businesses for processing digital transactions between the United Kingdom and the European Union earlier this year.

After Brexit, the UK is no longer subject to an EU interchange fee ceiling, allowing card networks to hike their costs.

Interchange costs between the United Kingdom and the European Union have also been raised by Mastercard.

Customers will be able to use debit cards, including Visa cards, as well as non-Visa credit cards such as Mastercard and American Express, according to Amazon. Before the modifications, users are asked to adjust their default payment method. Bloomberg was the first to report the news.

Visa expressed its displeasure with Amazon's promise to limit customer choice in the future.

A Visa spokeswoman told CNBC that "U.K. consumers may use their Visa debit and credit cards at Amazon U.K. now and throughout the holiday season."

"We've had a long-standing relationship with Amazon, and we're working hard to find a solution so that our cardholders may use their preferred Visa credit cards at Amazon U.K. without Amazon's limitations starting in January 2022."

Visa was chastised by Amazon for their exorbitant card fees. According to a firm representative, "the expense of taking card payments continues to be a hurdle for businesses attempting to deliver the greatest pricing for clients."

"With technical developments, these expenses should be declining over time, but unfortunately they are remaining high, if not rising."

The move might be seen as a strategy for Amazon to gain leverage on Visa, allowing it to cut its costs. Businesses must also pay scheme fees to join the payments company's network.

While smaller businesses may not be able to negotiate, Amazon, due to its size, may have a better chance.

Subscribe Our Newsletter

Apple Missed Earnings and Revenue Forecasts. The Stock Is Declining.

Milena

Apple Missed Earnings and Revenue Forecasts. The Stock Is Declining.

Sales of the Mac, iPhone, and wearables fell far short of forecasts in the most recent quarter, creating additional concerns about consumer demand in a faltering economy.

Stocks
U.S. COVID-19 Vaccine Mandate Revived, Supreme Court Showdown Looms
U.S. COVID-19 Vaccine Mandate Revived, Supreme Court Showdown Looms

A US appellate court restored a countrywide mandatory vaccination COVID rule for major corporations on Friday, covering 80 million employees, leading critics to hurry to the Supreme Court to seek intervention.

Banks and Finance
B2BROKER Liquidity B2BROKER Liquidity
Sponsored
Alexander

Stop Vs. Stop-Limit Order: How Do They Differ?
Stop-loss (sometimes also known as stop orders) and stop-limit orders are two common tools used by day traders to manage risk when dealing with assets of any kind – stocks, crypto, Forex, commodities, and many more.

discover
What Does Providing Liquidity Mean in Crypto?

Oliver

What Does Providing Liquidity Mean in Crypto?

The term "liquidity" is one you hear most when dealing with the crypto market. Liquidity can significantly affect investors' ability to get a fair exchange rate for their cryptocurrency holdings.

Crypto Exchange Business
Contact us bg

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Successful!
    Thank you for your request.
    We will contact you shortly.
    Close

    Сonstantine

    Best Crypto to Buy Now: Guide for Investors

    Best Crypto To Buy Now

    Hazem

    Grok vs ChatGPT: What’s the Best AI Assistant You Need in 2025

    Grok vs ChatGPT

    Сonstantine

    How to Choose the Right Liquidity Provider for Your Brokerage

    How to Choose the Right Liquidity Provider for Your Brokerage

    Сonstantine

    Low-Latency Trading Defined: Speed, Strategy and Technology

    Low-Latency Trading Explained

    Hazem

    How Liquidity Depth Affects Slippage in High-Volume Trading

    Liquidity depth and slippage in trading

    Hazem

    What is FIX API Liquidity Connection and How Does it Power Institutional Trading?

    FIX API in institutional trading

    Сonstantine

    OTC Trading Strategies and Technologies to Succeed in Over-the-Counter Markets

    OTC Trading Strategies

    Alexander

    What is OTC Trading? A Complete Guide for 2025

    what is OTC

    Alexander

    Synthetic Futures: A Trader’s Guide to Replicating Positions with Options

    How to Trade Synthetic Futures

    Сonstantine

    Order Book Depth: What It Is And Why It Matters?

    Order Book Depth What It is And Why It Matters

    Alexander

    Spot vs Perpetual Futures: Which Is Right for You?

    Spot vs Perpetual Futures explained

    Hazem

    5 Reasons Traders Are Switching to Perpetual Futures

    5 Reasons to Switch to Perpetual Futures

    Constantine

    Top 3 Liquidity Challenges Facing New Exchanges and How to Solve Them

    Top 3 Liquidity Challenges Facing New Exchanges Today

    Constantine

    Financial Planning in the Cryptocurrency Era — Master Crypto and Digital Asset Strategies

    Financial Planning in the Cryptocurrency Era

    Hazem

    Best Platforms to Trade Perpetual Futures in 2025

    Best platforms to trade perpetual futures in 2025

    Alex

    Top 10 Fintech Website Development Agencies for 2025

    Best Fintech Website Development Agencies for 2025

    Сonstantine

    Internal vs External Range Liquidity In ICT Trading Explained

    Internal vs External Range Liquidity In ICT Trading

    Constantine

    Portfolio Backtesting — Tools, Metrics, and Methods Explained

    Portfolio Backtesting

    Сonstantine

    ICT Trading Explained: Smart Money Concepts, Tools and Setups

    ICT Trading Explained

    Сonstantine

    CFD Trading Strategies: A Practical Guide to Risk and Execution

    CFD Trading Strategies

    Alexander

    What is a Fair Value Gap? A Guide to Trading Market Imbalances

    What is Fair Value Gap

    Vitaliy

    Triangle Patterns in Trading: Mastering Ascending, Descending & Symmetrical Strategies for Maximum Profit

    Triangle Patterns in Trading: Ascending, Descending & Symmetrical Guide

    Alexander

    What Is COTI? Payments, Token & Price Prediction

    What is a COTI coin

    Constantine

    Best Copy Trading Software in 2025

    Best Copy Trading Software in 2025
    liquidity-provider-logo
    • News
      • Stock Market Forecast
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
      • AI
      • Technology
      • DeFi
      • NFT
    • Articles
      • Crypto Payments
      • Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
      • FinTech Awards
      • Blockchain
      • Investing
      • NFT
      • DeFi
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
      • White Label Brokerage Platforms
      • Broker CRM Platforms
    [email protected]

    © 2024 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy
    This site is registered on wpml.org as a development site. Switch to a production site key to remove this banner.