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Visa reaches agreement with Amazon over payment fees -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO – Credit card seen in front the displayed Visa logo in this illustration from July 15, 2021. REUTERS/Dado Ruvic/Illustration

(Reuters) – Visa Inc As part of a worldwide agreement, (NYSE:) cards are accepted in all Amazon.com Inc (NASDAQ) stores and websites. The payments giant announced this late Wednesday.

Amazon stated last November that they would no longer accept Visa credit card issued in the UK by Visa due to high transaction fees from the payment processor.

In a statement made earlier in the year, the giant e-commerce website said that it wouldn’t stop accepting Visa credit cards from UK. Additionally, it stated it was working to resolve an issue over payments fees.

After Brexit, the UK has lost an EU-imposed cap on card issuer fees.

Visa is delighted to have come up with a comprehensive, international agreement that includes Amazon. The agreement allows Visa to be accepted at Amazon’s stores and websites today. There is also a shared commitment to work together on innovative product and technological initiatives that will ensure our customers have innovative payment experiences in the future,” a Visa representative said to Reuters via email.

Amazon didn’t immediately reply to our request for comment.

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