Win For UK Customers As Amazon And Visa Resolve Dispute
E-commerce giant Amazon has reached an agreement with Visa to settle a dispute over the credit card giant’s fees.
The deal means UK Amazon customers can continue to use their Visa credit cards.
Back in November, Amazon announced it would stop accepting payments via Visa credit cards because of Visa’s increased fees due to Brexit. At the time, Visa said it was “very disappointed” with Amazon’s decision.
Amazon has since been pressuring Visa to lower its fees in a series of moves that motioned retailers’ increasing frustration over the costs associated with major card networks.
Speaking to CNBC via an email on Thursday, a spokesperson for Amazon said, “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.”
The e-commerce giant is also set to abandon a 0.5% surcharge on Visa credit card transactions in Australia and Singapore, which it introduced last year.