Amazon may drop Visa as partner on US credit card

 

 

Amazon is considering dropping Visa as partner on its US co-branded credit card after earlier confirming it would stop accepting Visa credit cards in the United Kingdom as a dispute over payments intensified. The e-commerce giant is in talks with several payment networks including Mastercard, American Express, and Visa as part of what it called its standard process for reviewing its co-branded credit card agreement, a spokesperson said.

In recent months, Amazon has introduced surcharges on customers using Visa credit cards in Singapore and Australia, citing high fees, as the relationship between the two firms deteriorated.

Since Britain’s exit from the European Union, an EU-enforced cap on fees charged by card issuers is no longer in place in the UK, meaning providers are free to hike charges.

Visa last month began charging 1.5% of the transaction value for credit card payments made online or over the phone between the UK and EU, and 1.15% for debit card transactions.

 

Source: VOV5

 

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