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Amazon to stop accepting Visa credit cards issued in the UK

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Leon Neal | Getty Images News | Getty Images

LONDON — Amazon plans to stop accepting payments made via Visa credit cards issued in the U.K. starting next year.

The e-commerce giant has told some customers that, from Jan. 19 onward, the company will no longer accept Visa credit cards issued in Britain “ due to the high fees Visa charges for processing credit card transactions.”

Visa shares fell 2.5% in U.S. premarket trading.

Visa earlier this year hiked the interchange fees it charges merchants for processing digital transactions between the U.K. and the European Union.

After Brexit, an EU cap on interchange fees no longer applies in the U.K., allowing card networks to raise their…



Source cnbc.com

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