UK customers can shop on Amazon with Visa cards without worry again.
Last month, retail giant Amazon had gotten into some friction with credit card company Visa. Amazon had been putting pressure on Visa to lower the fees that they incur when United Kingdom-based customers shop with Visa credit cards. For a time, it looked like Amazon was going to stop accepting Visa cards on UK purchases entirely, though they walked this back at the last minute to keep negotiations open.
After a month of negotiations, it seems Amazon and Visa have finally come to terms. The dispute over fees has been settled, so not only can UK customers continue using Visa cards freely, but Amazon will also be dropping the 0.5% surcharge to purchases made with Visa cards in Singapore and Australia.
“We’ve recently reached a global agreement with Visa that allows all customers to continue using their Visa credit cards in our stores,” an Amazon representative told CNBC. “Amazon remains committed to offering customers a payment experience that is convenient and offers choice.”
LATEST: Amazon told customers that it has reached an agreement with Visa over the fees it pays to accept the payments giant’s cards on its website https://t.co/CO0Lc2IgIa
— Bloomberg (@business) February 17, 2022
In a statement of their own, Visa said that they would be cooperating with Amazon on “new product and technology initiatives to ensure innovative payment experiences for our customers in the future.”
The precise terms of Amazon and Visa’s settlement have not been publicly divulged.
