Amazon bans Visa credit cards in the UK: Why the two companies are clashing

Amazon today took the highly unusual step of announcing it will. Visa said it was “very disappointed” by the decision.

The EU introduced regulation in 2015 that capped interchange fees in the bloc at 0.2% for debit card transactions and 0.3% for David Maisey, CEO at MultiPay Global Solutions, said: “Amazon is firing the starting gun on a race for new payment methods.” Amazon hinted at broader ambitions in its statement on Visa today, saying: “With the rapidly changing payments landscape around the world, we will continue innovating on behalf of customers to add and promote faster, cheaper, and more inclusive payment options to our stores across the globe.”

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Amazon to stop accepting Visa's UK-issued credit cards over high feesAmazon.com Inc said on Wednesday (Nov 17) it would stop accepting Visa Inc credit cards issued in the United Kingdom from next year due to the high fees charged by the payment processor for transactions. \u0022As a result of Visa\u0027s continued high cost of payments, we regret that Amazon.co.uk will no longer acce
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