Amazon has just announced that they will stop accepting Visa credit cards from 19 January due to the high transaction charges. They will continue to accept Visa debit cards.
https://www.bbc.co.uk/news/business-59306200
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My bank recently switched their credit card from Visa to Mastercard. At the time I was confused as to why and what difference it would make: now it's starting to look like a bit of luck (unless/until Amazon target Mastercard next...).
@slimfern posted:Out of principle, I don't shop with Amazon. However, I can understand their not wanting to accept credit card payments. Processing can cost quite a bit once merchant bankers and bank charges are factored into a purchase, especially on a product making a small profit.
I donât use Amazon eitherâĶ.but certainly wouldnât be using my debit card if I did . In fact I never use my debit card online , I donât think itâs worth the risk .
@Eugene's Lair posted:My bank recently switched their credit card from Visa to Mastercard. At the time I was confused as to why and what difference it would make: now it's starting to look like a bit of luck (unless/until Amazon target Mastercard next...).
Heard on news tonight that Mastercard wonât work either
@Baz posted:So basically you canât use a credit card on Amazon then !
Not what the BBC are saying (at least, not at the moment... 
):
'James Andrews, senior personal finance editor at comparison website Money.co.uk, said the move "will come as a blow to the millions of Britons" who use Visa credit cards, including Barclaycard and HSBC customers.
"With American Express also rejected by many UK retailers, that means people looking for rewards on their spending or trying to split the cost of shopping with a 0% purchase card on Amazon will be effectively forced to choose a Mastercard," he said.
He added that a rewards card that is offered by Amazon is "powered by Mastercard".'
@Eugene's Lair posted:Not what the BBC are saying (at least, not at the moment...
'James Andrews, senior personal finance editor at comparison website Money.co.uk, said the move "will come as a blow to the millions of Britons" who use Visa credit cards, including Barclaycard and HSBC customers.
"With American Express also rejected by many UK retailers, that means people looking for rewards on their spending or trying to split the cost of shopping with a 0% purchase card on Amazon will be effectively forced to choose a Mastercard," he said.
He added that a rewards card that is offered by Amazon is "powered by Mastercard".'
As I said...the costs are too high!
I used to run a petrol station for a friend....if a customer came in on a ÂĢ10 fuel purchase and paid via card...the transaction made a loss....due to duty, merchant banker fees and then bank costs.
Slightly different scenario I know...but the effect is pretty much the same.
Bet some deal will be struck in time to prevent this happening and the potential loss of customers.
They can't assume that ALL customers who use VISA credit cards will dutifully trot off and switch to another card!
@Extremely Fluffy Fluffy Thing posted:Bet some deal will be struck in time to prevent this happening and the potential loss of customers.
They can't assume that ALL customers who use VISA credit cards will dutifully trot off and switch to another card!
I was thinking that EFFT âĶ.I canât see them risking losing loads of customers .
@El Loro posted:Amazon has announced that they will continue to accept Visa credit card payments for the time being and was "working closely with Visa on a potential solution".
Much as I surmised!
Announced today that Amazon and Visa have come to a global agreement on credit cards:
https://www.bbc.co.uk/news/business-60413957
So Amazon's threat to stop accepting Visa credit cards has gone.
@El Loro posted:Announced today that Amazon and Visa have come to a global agreement on credit cards:
https://www.bbc.co.uk/news/business-60413957
So Amazon's threat to stop accepting Visa credit cards has gone.
0.3% to 1.5% is quite a hike in one go...I can understand the grievance made by Amazon.
It's not hard to see how Visa makes billions each year is it.
@El Loro posted:Announced today that Amazon and Visa have come to a global agreement on credit cards:
https://www.bbc.co.uk/news/business-60413957
So Amazon's threat to stop accepting Visa credit cards has gone.
I was reading that this morning El