AMAZON REVERES DECISION to stop accepting Visa payments
Amazon has postponed its plan to stop customers using Visa credit cards at the last minute.
The company had originally said that it would refuse to accept the cards from 19 January, blaming the “high fees Visa charges for processing credit card transactions. We know the plan had caused confusion and difficulties for customers with a Visa card, who were set to be locked out of purchasing at Amazon".
But the retail giant has since announced that it will no longer stop Visa credit transactions and that it is working on a “potential solution” with the credit card company to allow customers to continue using their cards to pay for purchases.
The dispute initially started after Amazon decided to halt the payments and announced that it would no longer accept Visa credit cards from 19th January 2022 and blamed the move on Visa’s card fees.
Money saving guru Martin Lewis has been noted saying at the time he suspected the shake-up was a possible negotiating tactic by Amazon to get Visa to lower its credit card transactions fees.
Visa issued a brief statement after this saying
“Amazon customers can continue to use Visa cards on Amazon.co.uk after 19 January while we work closely together to reach an agreement.”
So this all means that you can continue to use your Visa credit card as normal to pay for goods and you don't need to do anything if you've not yet updated your details and you can change your preferred Amazon payment method back to Visa credit if required.
As everyone, we were very disappointed that Amazon was threatening to restrict consumer choice in the future, as when consumer choice is limited, nobody wins!