This means that payments from millions of credit cards will still be accepted. The announcement came two days before the previously announced ban on Visa credit cards.
Ban announced in November
Amazon announced in November that it would stop accepting Visa credit cards in the U.K. After Brexit, the U.K. no longer has a cap on interchange fees. Because of this, Visa and Mastercard raised their fees.
"We have a long-standing relationship with Amazon, and we continue to work to resolve the issue so that our cardholders can use their Visa credit cards in Amazon UK without the restrictions imposed by Amazon beginning in January 2022," a Visa spokesperson said at the time.
"The ban will not be implemented on January 19."
Amazon announced that the ban will not be imposed on Jan. 19. "We are working closely with Visa on a potential solution that will allow customers to continue to use their Visa credit cards on Amazon.co.uk," the company wrote to its customers.
"We are working closely with Visa on a potential solution."
The e-commerce giant says it will give advance notice of any possible future changes related to Visa credit cards. For now, customers can continue to use their Visa credit cards, debit cards, Mastercard, American Express and Eurocard.
Pressure on Visa
It's still unclear what solution Amazon and Visa will come to. Both companies are still trying to reach an agreement. It is possible that many customers have already found other issuers for their credit cards. This has probably increased the pressure on Visa to reach a compromise with Amazon.
The original article is available at this link.
Ban announced in November
Amazon announced in November that it would stop accepting Visa credit cards in the U.K. After Brexit, the U.K. no longer has a cap on interchange fees. Because of this, Visa and Mastercard raised their fees.
"We have a long-standing relationship with Amazon, and we continue to work to resolve the issue so that our cardholders can use their Visa credit cards in Amazon UK without the restrictions imposed by Amazon beginning in January 2022," a Visa spokesperson said at the time.
"The ban will not be implemented on January 19."
Amazon announced that the ban will not be imposed on Jan. 19. "We are working closely with Visa on a potential solution that will allow customers to continue to use their Visa credit cards on Amazon.co.uk," the company wrote to its customers.
"We are working closely with Visa on a potential solution."
The e-commerce giant says it will give advance notice of any possible future changes related to Visa credit cards. For now, customers can continue to use their Visa credit cards, debit cards, Mastercard, American Express and Eurocard.
Pressure on Visa
It's still unclear what solution Amazon and Visa will come to. Both companies are still trying to reach an agreement. It is possible that many customers have already found other issuers for their credit cards. This has probably increased the pressure on Visa to reach a compromise with Amazon.
The original article is available at this link.