Sorry, we don’t accept Visa credit cards

Visa credit card  💳 users in the UK might get a shock – as Amazon will stop accepting UK-issued Visa credit cards starting Jan. 2022.

Stop accepting?! What happened to the couple?

Last month, Visa increased the processing fee from 0.3% to 1.5% for all online credit card payments between the UK and the EU. Amazon claims that Visa charges too much. 

  • This made Amazon angry 😡 So it will ban all sterling-based credit cards from making payments on its website starting Jan 2022. Visa debit cards won’t be impacted.
  • Not only that, Amazon is also considering dropping Visa as a partner on its US co-branded card, while talking to others like Mastercard and Amex.

That’s so expensive! Why did the fee gain so much?!

Brexit might be the reason: The European Union imposes a cap and does not allow card networks to increase transaction fees. As the UK is no longer part of the bloc, they can charge freely 🤦

  • The share price of Visa fell 4.70% after Amazon dropped its credit cards in the UK. 

Singapore faces higher prices too 🇸🇬 Earlier this year, Amazon added a 0.5% surcharge on any Visa credit card payments in Singapore – encouraging customers to use a debit or non-Visa credit card.

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