Visa says fees are not too high after Amazon announcement

The CEO of Visa has responded to Amazon’s decision to ban its credit cards in the UK, calling the decision “odd”.
However, Al Kelly is hopeful that the issue will be sorted as the two companies come together to negotiate.
“Clearly, we’re in a challenging negotiation,” Al Kelly told the Financial Times.
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.
“What’s different here is that Amazon unfortunately decided to take the negotiation challenges that we’re having public and oddly has chosen to threaten to punish consumers.”
🔴Millions of Amazon customers will be unable to make payments next year after the online retailer banned Visa credit cards in the UK.
— Telegraph Money (@MoneyTelegraph) November 17, 2021
The ban will come into force on January 19 pic.twitter.com/PXqBq5Fmcs
Just last Wednesday Amazon told its customers that it will no longer accept Visa credit cards issued in the UK as of early 2022.
Amazon reasoned that the decision was due to high fees, however, according to payments company Bambora, Visa and Mastercard’s fees are close to being the exact same.
“I find it quite odd that they’re claiming they did this because of the high cost of acceptance of these in the UK,” Kelly said. “It’s just absolutely inaccurate.”
Amazon is considering shifting its popular co-brand credit card to Mastercard amid simmering tensions with Visa https://t.co/YyApjUv5MI
— Bloomberg (@business) November 20, 2021
Could the lightning network be an eventual solution to Amazon’s apparent concerns with high fees?
Amazon to stop accepting Visa cards in the UK due to “high fees.”
— Bitcoin Magazine (@BitcoinMagazine) November 17, 2021
Lightning fixes this ⚡
Amazon to stop accepting Visa cards in the UK due to “high fees.”
— Bitcoin Magazine (@BitcoinMagazine) November 17, 2021
Lightning fixes this ⚡