Amazon.com said on Monday it would not stop accepting UK-issued Visa Inc credit cards on its British website later this month as it had proposed, adding that it was working with Visa to resolve a dispute over payment fees.
„The expected change regarding the use of Visa credit cards on Amazon.co.uk will no longer take place on January 19,” the company said in an email to customers.
„We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on Amazon.co.uk.”
Amazon said in November it would ban Visa’s card because of the high transaction fees charged by the payment processor.
Roger De’Ath, head of UK, TrueLayer, said that while the news brings temporary relief for Amazon customers, the issue has highlighted a fundamental need for new solutions that benefit every retailer, rather than acting as a short-term sticking plaster for the few:
„For too long, cards have been retrofitted into online checkouts, creating an invisible web of hidden costs and unwieldy payment structures that affect the cost base of every single retailer. With new technologies available that can move money at a fraction of cost and time, the industry no longer needs to be held hostage to card networks for all transactions.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
