#Open journalism No news is bad news

Your contributions will help us continue to deliver the stories that are important to you

Support The Journal
Dublin: 9°C Wednesday 26 January 2022
Advertisement

Amazon to stop accepting UK Visa credit cards due to post-Brexit 'high fees'

The online retail giant said it has made the decision due to ‘the high fees Visa charges for processing credit card transactions’.

AMAZON HAS TOLD customers it will stop accepting payments made using UK Visa credit cards next year.

The online retailer said in an email to customers that Visa credit cards issued in the UK will be halted from use on its site from 19 January.

Amazon said it has made the decision due to “the high fees Visa charges for processing credit card transactions”.

These high fee costs are understood to be a result of Brexit, with the UK no longer under a cap from EU law for interchange fees (up from 0.3% last year to 1.5% this year).

Customers will still be able to use debit cards, including Visa, and non-Visa credit cards, it said.

An Amazon spokesman 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 Amazon.co.uk will no longer accept UK-issued Visa credit cards as of January 19 2022.

#Open journalism No news is bad news Support The Journal

Your contributions will help us continue to deliver the stories that are important to you

Support us now

“With the rapidly changing payments landscape around the world, we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe.”

The PA news agency has contacted Visa for comment.

About the author:

Press Association

Read next:

COMMENTS (59)

This is YOUR comments community. Stay civil, stay constructive, stay on topic. Please familiarise yourself with our comments policy here before taking part.
write a comment

    Leave a commentcancel