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Thursday, December 2, 2021

Amazon to stop accepting UK Visa credit cards due to post-Brexit fees

Amazon has announced that it will no longer be accepting UK Visa credit cards next year, citing ‘high’ post-Brexit fees.

The retailer emailed its customers that Visa credit cards issued in the UK will be halted for use on its site due to “the high fees Visa charges for processing credit card transactions”.

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It’s understood that these fees have resulted from Brexit as the UK is no longer under a cap from EU law for interchange fees, which have risen to 1.5% this year.

However, both Visa and non-Visa debit cards can still be used.

A spokesman for Amazon stated that the cost of accepting card payments “should be going down over time with technological advancements, but instead they continue to stay high or even rise” while saying that they continue “to be an obstacle for businesses striving to provide the best prices for customers.”

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The spokesman added, “With the rapidly changing payments landscape around the world, we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe.”

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