Amazon to stop accepting Visa credit cards in the UK
What: Since Brexit, an EU-enforced cap on fees charged by card issuers is no longer in place in the UK, meaning providers are free to hike charges. Visa increased the interchange fees it charges merchants for processing digital transactions between the U.K. and the EU.
Why it is important: The move is seen as a way for Amazon to get some bargaining power over Visa to lower its fees.
The new policy is set to be enforced from 19 January 2022. Amazon customers can still use Visa debit cards, Mastercard and Amex credit cards, and Eurocard, the company said in a note to its customers.
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