From January, Amazon will no longer accept Visa's UK credit cards

 

On Wednesday, Amazon announced that it will discontinue the acceptance of Visa (V) credit cards issued in the United Kingdom starting in the first quarter of next year due to the payment processor's high transaction fees.

 

An Amazon spokesperson expressed regret over the decision to discontinue accepting UK-issued Visa credit cards on January 19, 2022, citing the company's "continued high cost of payments" due to the company's relationship with Visa.

 

Customers of Amazon (AMZN) can continue to pay with Visa debit cards, Mastercard (MA), and American Express credit cards, as well as Eurocard, according to a note sent to customers by the company on Monday.

 

Transaction fees have long been a source of contention between merchants and payment processors. In 2019, a Kroger (KR) store stopped accepting Visa credit cards due to high fees, the company said.

 

Reuters reached out to Visa for comment, but did not receive a response right away.

 

Bloomberg News previously reported on Amazon's intention to stop accepting Visa credit cards issued in the United Kingdom, as previously reported by Bloomberg News.