Amazon not accepting Visa Credit Card for payment from January 2022


Ian

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Got a surprise this morning when Amazon sent out an e-mail saying that they're not accepting Visa credit card payments from Jan next year! That's the payment method for a HUGE number of customers... I wonder if this is some sort of wrangle to push down Visa processing fees. They even accept Amex, so I wonder how much Vista actually charge to process a transaction.
 
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Taffycat

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@Ian I wonder whether it could be anything to do with changes being made by some banks? Ours contacted us recently to say this:
"...your debit card is changing from Visa Debit to Debit Mastercard..." They say they will be sending out these new cards regardless of whether or not your card is due for replacement.
 

Ian

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I think we may have the same bank TC, as mine did that too :). At the moment I've got a Mastercard Debit card but a Visa Credit card (both with same bank).

Interesting that so many places are turning away from Visa!
 
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Taffycat

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Thanks TC! I'm betting that Visa do a deal behind the scenes on this and reduce their fees for Amazon!
Yes, that would probably make good sense, rather than alienating a lot of folk whom, for whatever reason, prefer to use that method of payment. It'll be interesting to see what happens next.
 

Quadophile

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Just trying to read between the lines here, I think Visa is more concerned than Amazon.

A Visa spokesperson said: "UK shoppers can use their Visa debit and credit cards at Amazon UK today and throughout the holiday season.


"We are very disappointed that Amazon is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins.


"We have a long-standing relationship with Amazon, and we continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022."
 
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V_R

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I got the same email yesterday too. My credit card is a Visa.

My first thought was Amazon throwing their weight around to force Visa to drop their fees, second thought was, Amazon trying to pimp out their own card.

Either way, I'm a bit annoyed by it.
 

Quadophile

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My first thought was Amazon throwing their weight around to force Visa to drop their fees,

Yes losing Amazon would be a very big blow to Visa

second thought was, Amazon trying to pimp out their own card.

I have no doubt about that. They have become very aggressive lately promoting that
 
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I never understood why card processors charge a percentage of the sale? It doesn't cost them more money to process the transaction. Why do they feel entitled to a share of the profit? They didn't create the product, and they didn't spend the money to advertise and sell it. It should be a set fee instead of a percentage. That would be fair.
 
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I never understood why card processors charge a percentage of the sale? It doesn't cost them more money to process the transaction. Why do they feel entitled to a share of the profit? They didn't create the product, and they didn't spend the money to advertise and sell it. It should be a set fee instead of a percentage. That would be fair.
Actually, our credit card processor for our business charges us both a percentage and a fixed rate for each credit card purchase that we submit. That is one reason that we have a $10.00 minimum for a credit or debit card purchase.
 

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