Amazon and Visa have resolved their simmering dispute over fee charges within the UK and elsewhere, Reuters has reported. “We’ve recently reached a global agreement with Visa that allows all customers to continue using their Visa credit cards in our stores,” a spokesperson advised Reuters.
Amazon threatened to cease accepting Visa within the UK beginning January nineteenth, citing the excessive charges it prices for bank card transactions. The remainder of Europe wasn’t impacted because the EU has a cap on card issuer charges, however each Mastercard and Visa card issuers jacked charges within the UK following Brexit. UK regulators lately announced that they’d examine these will increase.
It appeared possible that Amazon would not perform its risk, given Visa’s dominance within the fee market. Sure sufficient, shortly earlier than that deadline, Amazon introduced it will continue accepting the playing cards in spite of everything and stated it was “closely working with Visa on a potential solution.”
Amazon did not ban or threaten to ban Visa playing cards anyplace else, but it surely has been charging an extra transaction charge for Visa-using prospects in Australia and Singapore. That cost has now been revoked, and Visa and Amazon seem to have put the entire thing behind them. “This agreement includes the acceptance of Visa at all Amazon stores and sites today, as well as a joint commitment to collaboration on new product and technology initiatives,” a Visa spokesperson stated in an announcement.
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