Amazon To Stop Accepting Visa Credit Cards Issued in the UK, Citing High Fees

Amazon plans to stop accepting payments made via Visa credit cards issued in the U.K. starting next year. From a report: The e-commerce giant has told some customers that, from Jan. 19 onward, the company will no longer accept Visa credit cards issued in Britain 'due to the high fees Visa charges for processing credit card transactions.' Visa earlier this year hiked the interchange fees it charges merchants for processing digital transactions between the U.K. and the European Union. After Brexit, an EU cap on interchange fees no longer applies in the U.K., allowing card networks to raise their charges. Mastercard has also increased its U.K.-EU interchange fees. Amazon customers were told they will still be able to use debit cards -- including those issued by Visa -- and non-Visa credit cards like Mastercard and American Express. Users are being encouraged to update their default payment method ahead of the changes.

Read more of this story at Slashdot.