Amazon.com, Inc. (AMZN) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 244.41

+0.6%

Nov 7 9:30 AM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Sr K	11/17/2021 9:52:06 AM
	of 164684

Amazon to Stop Accepting U.K.-Issued Visa Credit Cards Visa says it is trying to resolve the matter so customers can continue using its cards after the Jan. 19 deadline An Amazon store in Dartford, England. The company said it will stop accepting U.K.-issued Visa credit cards in January.PHOTO: DAN KITWOOD/GETTY IMAGES By Margot Patrick Nov. 17, 2021 7:53 am ET Amazon. AMZN +1.10% com Inc. said it would stop accepting Visa Inc. V -5.29% credit cards that have been issued in the U.K. because of high charges by Visa, in a spat highlighting ongoing tensions between retailers and payment processors over fees. Amazon told customers it won’t take credit cards issued by Visa in the U.K. as of Jan. 19, “due to the high fees Visa charges for processing credit card transactions.” A spokesman said card payment costs keep customers from getting better prices and that those costs shouldn’t be staying high or rising even as technology improves. The U.K. action continues a yearslong wrangle between businesses and credit card companies over the fees that credit card companies charge to process customer payments. Amazon is among large merchants that have sued Visa and other credit card providers and banks over such fees, which they say are unfairly set and raise prices for consumers. Card networks such as Visa and Mastercard Inc. set the interchange fees that businesses pay to credit-card issuers when consumers use credit cards. Visa said it is trying to resolve the situation so that customers could keep using their credit cards after the January deadline without Amazon-imposed restrictions. It said it was disappointed that customer choice was under threat. Excerpt

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next