Monday, January 30, 2023

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Amazon halts plan to stop accepting Visa credit cards in the UK

An Amazon warehouse in Warrington, England.

Nathan Stirk | Getty Images

LONDON — Amazon has scrapped plans to stop accepting Visa credit cards in the U.K.

The e-commerce giant was expected to prevent Brits using a Visa-issued credit card from Jan. 19. But in a statement Monday, the firm said the change “will no longer take place.”

“We are working closely with Visa on a potential solution that will enable customers to continue using their Visa credit cards on,” an Amazon spokesperson told CNBC by email.

Amazon initially made the shock announcement in November, citing “high fees Visa charges for processing credit card transactions.” Visa at the time said it was “very disappointed” in the move and would work toward a resolution with Amazon.

The two companies have locked horns in the past, with Amazon announcing plans to introduce a 0.5% surcharge on Visa credit cards in Australia and Singapore last year.

It’s not yet clear why Amazon made the U-turn on its plan to ditch Visa credit cards in the U.K., nor whether the decision is final or temporary.

“Amazon customers can continue to use Visa cards on after January 19 while we work closely together to reach an agreement,” a Visa spokesperson told CNBC by email.

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