Online retail giant Amazon is to stop accepting Visa credit cards issued in the U.K. from 19 January in an extraordinary face-off over transaction fees.
In announcing the move, Amazon said that the decision had been prompted by high credit card transaction fees but said that Visa debit cards would still be accepted.
Visa’s share price slumped nearly 7% yesterday, though they have recovered a little of their lost ground in trading so far today.
In the meantime, Amazon is offering gift card sweeteners to affected customers to apologize for the inconvenience, offering $27 for Prime customers to switch from using Visa to an alternative payment method, and $13.50 for other customers, if they have a Visa card as their only or default payment method on their account.
Source: www.forbes.com
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ReplyDeleteAmazon’s decision to stop accepting Visa Credit Cards in the UK highlights how quickly payment policies can change and why shoppers should always have flexible payment options. While changes like this may cause temporary inconvenience, they also encourage consumers to explore alternative ways to complete their purchases. The same goes for buying Anniversary Gifts having multiple payment methods available makes it easier to order thoughtful surprises without unnecessary delays, ensuring special occasions are celebrated on time.
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