Amazon has said it will not accept Visa credit cards but will still accept other credit brands (Andrew Matthews/PA)
(Picture: PA Archive)Amazon will stop accepting Visa credit cards in the UK next year and people are just so grateful for Brexit (not).
The retail giant said they would stop them from 19 January due to high credit card transaction fees. Personal finance expert Martin Lewis said Visa have been able to increase fees because an EU cap no longer applies to the UK.
Amazon to stop allowing people to use Visa credit cards from Jan (Visa debit, mastecard & amex still fine)
— Martin Lewis (@MartinSLewis) November 17, 2021
It's because Visa is increasing transaction rates now the EU cap no longer applies (post Brexit).
It's a possible negotiating tactic for Amazon to gets its fees reduced.
Indeed, a recent report from the British Retail Consortium and retail payments advisory firm CMS Payments Intelligence found that new rules after Brexit have increased credit and debit card costs by £150 million a year and last month it was reported that Visa was one of the companies to increase its fees made between European customers and British businesses from 0.3 per cent to 1.5 per cent, as well as vice versa.
In an email to UK customers, Amazon said: “Starting 19 January, 2022, we will unfortunately no longer accept Visa credit cards issued in the UK,â¯due to the high fees Visa charges for processing credit card transactions.
“You can still use debit cards (including Visa debit cards) and non-Visa credit cards like Mastercard, Amex, and Eurocard to make purchases.”
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“The cost of accepting card payments continues to be an obstacle for businesses striving to provide the best prices for customers,” the company added in a statement.
Meanwhile, a Visa spokesperson said: “UK shoppers can use their Visa debit and credit cards at Amazon UK today and throughout the holiday season.
“We are very disappointed that Amazon is threatening to restrict consumer choice in the future. When consumer choice is limited, nobody wins.
“We have a long-standing relationship with Amazon, and we continue to work toward a resolution, so our cardholders can use their preferred Visa credit cards at Amazon UK without Amazon-imposed restrictions come January 2022.”
Reacting to the news, people rolled their eyes at yet another apparent consequence of Brexit:
Would that be an other Brexit dividend then ? Just adding to the list
— germangirl (@AlenaGermangirl) November 17, 2021
And just in case you are thinking the story about higher credit card charges for retailers won’t affect you…
— Best for Britain (@BestForBritain) November 17, 2021
Amazon is about to stop taking UK-issued VISA as payment. Hands up anyone who voted for this Brexit. 🙌 ~AA https://t.co/7zozudW8iI
Apparently removing an EU cap on credit card fees is another "Brexit benefit".
— Charlie Stross (@cstross) November 17, 2021
JUCHE BRITANNIA!!
SUNLIt uPLaNDs!!!
(Background: sound of a million credit card terminals beeping "card declined" in unison; chorus of Visa execs gargling champagne and snorting coke) https://t.co/D0C9sQDIhZ
Brexit. The gift that keeps on taking. Remember when they said it would be great? 😂 You’d be crazy to still believe it.
— @eggyfishmas (@eggyfishmas) November 17, 2021
Another Brexit benefit. The wins just keep coming. If brexit were a brand, I have the advertising slogan.
— Dontbuythesun 🇪🇺🇬🇧🏳️🌈 🔰💫 (@OrTheDailyMail) November 17, 2021
Brexit: Reducing consumer choice since 2016 https://t.co/FHvCJ3i7jE
Amazon UK what the heck, no purchases on visa credit cards from January? Well I won't buy anything from you then, I will not be using a debit card as it has no protection online. Added to that, you avoid paying UK taxes. So goodbye #Amazon UK. Yet another Brexit mess!
— Dr Lynn #FBPE 🇪🇺🇬🇧🇪🇺 (@lynden27) November 17, 2021
Hey, another #brexit shaft. Amazon just announced from 19th Jan 2022 they won't accept Visa Credit card payments because we're not in the EU. How many more will follow suit? Remember the lies about a stronger economy? Our money will spend anywhere? We won't even get credit now.
— Andrew Oldham (@bongosherbert) November 17, 2021
Ah well, at least our blue passports are gorgeous.
Indy100 has contacted Visa and Amazon to comment on this story.
