The e-commerce giant has advised its customers that it will stop accepting Visa credit cards issued in the U.K. as payment in mid-January, citing the “high fees Visa charges for processing credit card transactions.”
Amazon‘s dispute with Visa is impacting a cluster of international markets.
The e-commerce company also said it will be considering dropping Visa in the U.S. in favor of rival Mastercard for its co-branded card.
The company has started imposing small surcharges on Visa transactions in Singapore and Australia, and announced a deal last week with Venmo giving U.S. shoppers “another way to avoid Visa entirely beginning in 2022.”
The CEO of payments tech firm MultiPay Global Solutions tells Evening Standard that Amazon “is firing the starting gun on a race for new payment methods,” including direct bank-to-bank payments.