Amazon to stop accepting Visa credit cards in UK

[saptastic]

Sounds like visa think they are too big not to be used.
Lets see how long it takes for them to reduce their fees.
When I was working with Amazon they always said payment fee's were one of their biggest costs that they wanted to reduce.

[NotAllThere]

this ^^^^

great way to use Amex for all those lovely Avios and cashbacks via Paypal.

To spell that one out

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

Looks like I'll not have to ditch my visa card.

[SueEllen]

Oh dear I will just have to change my primary card on my Amazon account to one of my mastercards.

I actually only have one visa credit card.

[hairymouse]

Visa is actually a not for profit company, run by a group of banks. Every year the banks get together and give them some money. The only customers Visa has is banks, not people.

[mattster]

Just double checked, phew mine's a Mastercard so I can continue to given Amazon all my disposable income.

Is this a move to pressure Visa, or is it mere coincidence that Amazon is advertising even better deals on Amazon Credit Card right now...?

Definitely just a move to pressure Visa IMO - no doubt Amazon have been threatening this behind the scenes and have now gone public to show they are serious. Visa will back down for Amazon, but all the little people's businesses will just have to suck up the extra fees.

[d000hg]

I actually only have one visa credit card.

I actually only have one credit card. Well I have a couple of others I don't use or even know where they are. If I could figure out how to cancel a card I don't know any details about I would...

[CheeseSlice]

Will this apply to AWS too?

[CheeseSlice]

Interesting. Received email from Amazon saying Visa credit cards will still be accepted for Amazon Business website.

Why the different approaches?

[northernladuk]

Interesting. Received email from Amazon saying Visa credit cards will still be accepted for Amazon Business website.

Why the different approaches?

I'd imagine business work a lot more on credit with long payment terms in B2B and the like. So they've cut the big costs to them in consumers but still allow it in the business area... for now. Also much harder for a business to be swapping accounts and getting new cards than consumers I would have thought. Can't help but think if it works for consumers then business won't be too far behind though.

I'd imagine it would be to do with volumes as well. It would be interesting to know the split between business debit and credit card use on the business side.

[GJABS]

Visa is actually a not for profit company, run by a group of banks. Every year the banks get together and give them some money. The only customers Visa has is banks, not people.

It seems to be profit-making nowadays though:
https://finance.yahoo.com/quote/V/