Amazon and Visa Agree on Card Fees for UK Customers
Recently, Amazon was in a situation with Visa regarding the fees associated with using Visa credit cards in the United Kingdom. Amazon had been pushing Visa to reduce these fees, causing concern that they might stop accepting Visa cards for UK purchases. However, they decided to continue negotiations.
After a month of discussions, Amazon and Visa have reached a resolution. The fee disagreement has been resolved, allowing UK customers to use Visa cards as before. Additionally, Amazon will be removing the 0.5% surcharge on Visa card purchases in Singapore and Australia.
An Amazon spokesperson told CNBC, “We’ve recently reached a global agreement with Visa that allows all customers to continue using their Visa credit cards in our stores. Amazon remains committed to offering customers a payment experience that is convenient and offers choice.”
Amazon informed customers that they have settled the fee issue with Visa for accepting payments on their website. [link to Bloomberg article]
— Bloomberg (@business) February 17, 2022
Visa also released a statement mentioning their collaboration with Amazon on future “new product and technology initiatives” to enhance payment experiences for their customers.
The specific details of the agreement between Amazon and Visa have not been disclosed publicly.
