Amazon has backtracked on the war it had opened with Visa. The electronic commerce giant has reported this Monday that it will continue to accept payments made by its customers in the United Kingdom with Visa credit cards, contrary to what it said last November. Then, the multinational announced that as of January 19 of this year it would stop accepting these cards in the country due “to the fees that Visa charges for processing transactions made with credit cards.”
A measure that did not take awayAmazon customers may continue to make their payments using debit cards, including those of that company, and other credit cards issued by companies other than Visa, such as Mastercard, Amex and Eurocard.
Faced with that decision, Amazon today indicated to its customers via email that “they can continue to use their Visa cards at Amazon.co.uk while we work together to reach an agreement” with the payment method company.
the giant of ecommerce has added in its statement that if they introduce Any changes related to Visa credit cards will be notified in time. In its message, the company does not make it clear whether the dispute with Visa has been definitively resolved, reports Efe; just notice that you are looking for a solution to resolve the dispute over payment fees.
Last November, a spokesman for the company owned by the American Jeff Bezos lamented that the costs derived from transactions paid with Visa credit cards remained high and continued to rise. The group also assured that it would continue “innovating in favor of customers to add and promote faster, cheaper and more inclusive payment options” in its stores around the world.
For its part, Visa then accused Amazon of taking that measure to pressure it, in the midst of negotiations that both companies maintain for the allegedly high commissions charged by the financial services company. “Obviously we are in a challenging negotiation (…) Amazon has chosen to threaten with punishing consumers,” he assured at the end of last November to the Financial Times, Visa CEO Alfred Francis Kelly Jr., who has called the decision “strange” and “unhappy.”
Amazon’s decision caused a fall of more than 7% in Visa’s shares on November 17, which through a statement was “disappointed” with Amazon’s position, since it considered that it threatens the range of options of the consumers.
Visa and Mastercard had announced an increase in the exchange rate applicable to payments between the UK and the EU following the completion of Brexit this year. For digital payments without a physical card, the fees had been raised to 1.15% for debit transactions and 1.5% for credit transactions, which is 0.2% and 0.3% more, respectively. .