Visa calls Amazon’s ban on its UK credit cards “strange”: report – archyde

Amazon.com Inc.’s decision to stop accepting Visa Inc. credit cards in the UK is “strange” and the retailer’s criticism that Visa charges are too high “inaccurate,” said Al Kelly, chief executive Officer of Visa, the Financial Times.

Amazon’s November 17th announcement that it would stop accepting Visa cards in the UK from January is a “threat to punish customers” and is part of “challenging negotiations” with Visa over payment rates, he said.

MasterCard Inc. has similar fees to Visa in the UK but was not highlighted, the newspaper reported.

“I find it quite strange that they claim they did this because of the high cost of adoption in the UK,” said Kelly. “It’s just absolutely inaccurate.”

According to the newspaper, the dispute is not just about the fees that Visa charges for transactions. Amazon finds it unreasonable for Visa to charge additional fees against fraud, the FT reported.

Amazon customers will still be able to use Visa debit cards, MasterCard and American Express Co. credit cards, as well as Visa credit cards issued outside the UK, the retailer said this week, offering users £ 20 ($ 27) off their next purchase, when presenting a debit card or non-Visa credit card as the default payment method.

Amazon has already charged a surcharge for Visa credit cards in Singapore and Australia.

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Reference-www.nach-welt.com

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