LONDON — Amazon plans to cease accepting funds made through Visa bank cards issued within the U.Okay. beginning subsequent yr.

The e-commerce big has instructed some prospects that, from Jan. 19 onward, the corporate will not settle for Visa bank cards issued in Britain as a consequence of excessive charges charged by the cost processor.

Visa earlier this yr hiked the interchange charges it prices retailers for processing digital transactions within the U.Okay., following the nation’s exit from the European Union. The transfer adopted an analogous improvement from Mastercard, which additionally elevated its charges.

Amazon prospects had been instructed they’ll nonetheless have the ability to use debit playing cards — together with these issued by Visa — and non-Visa bank cards like Mastercard and American Express. Customers are being inspired to replace their default cost technique forward of the adjustments. The information was first reported by Bloomberg.

Visa stated it was “very upset that Amazon is threatening to limit client selection sooner or later.”

“U.Okay. customers can use their Visa debit and bank cards at Amazon U.Okay. right now and all through the vacation season,” a Visa spokesperson instructed CNBC.

“We now have a long-standing relationship with Amazon, and we proceed to work towards a decision, so our cardholders can use their most popular Visa bank cards at Amazon U.Okay. with out Amazon-imposed restrictions come January 2022.”

Amazon blasted Visa for its excessive card prices. “The price of accepting card funds continues to be an impediment for companies striving to offer the very best costs for patrons,” a spokesperson for the corporate instructed CNBC.

“These prices ought to be taking place over time with technological developments, however as a substitute they proceed to remain excessive and even rise.”