Amazon to stop accepting Visa credit cards issued in the UK, citing high fees
Summary
LONDON — Amazon plans to stop accepting payments made via Visa credit cards issued in the U.K. starting next year. The e-commerce giant has told some customers that, from Jan. 19 onward, the company will no longer accept Visa credit cards issued in Britain due to high fees charged by the payment processor. Visa earlier this year hiked the interchange fees it charges merchants for processing digital transactions in the U.K., following the countrys exit from the European Union. "The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers," a spokesperson for the company told CNBC. "These costs should be going down over time with technological advancements, but instead they continue to stay high or even rise."
